Question
1 price equals marginal revenue at all output levels Question 16 4 pt The significance of...
1 price equals marginal revenue at all output levels Question 16 4 pt The significance of the minimum point on the average variable cost curve is that: it is the point of indifference between producing at a loss and shutting down. it shows the amount of total cost incurred by a firm in the production process.! if the firm produces one more unit, its average variable cost will be less than its marginal cost. it is the profit-maximizing level of output. it is the selling price of a good.
Answers
Answer : 16) The answer is option C.
At minimum point of average variable cost the marginal cost curve intersect the average variable cost curve. After that point the marginal cost and average variable cost increase continuously but the marginal cost is greater than the average variable cost. So, after that minimum point if the firm produce more 1 unit then the marginal cost will be greater than the average variable cost. Therefore, option C is correct.
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