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The marginal cost curve crosses _____
The marginal cost curve crosses _____.
a. only the average variable cost curve at its bottom
b. both the average cost curve and the average variable cost curve at their bottoms
c. only the average cost curve at its bottom
d. the marginal product curve at its maximum
Expert Solution
The correct option is (b) - both the average cost curve and the average variable cost curve at their bottoms.
Diagrammatically, the marginal cost curve crosses both the average cost curve as well as the average variable cost from its bottom so that the firms' marginal cost depicts the lowest production points. The beneath diagram depicts the same:
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