With respect to the average cost curves, the marginal cost curve ...

[P68T]

With respect to the average cost curves, the marginal cost curve
 a. intersects average total cost, average fixed cost, and average variable cost at their minimum points
  b. intersects average total cost, average fixed cost, and average variable cost at their maximum points
  c. intersects both average total cost and average variable cost at their minimum points
  d. intersects average total cost where it is increasing and average variable cost where it is decreasing
  e. intersects only average total cost at its minimum point

Question 2

The relationship between average and marginal variables can be stated as follows: if the marginal is greater than the average,
 a. the average is increasing
  b. the average is decreasing
  c. the marginal is increasing
  d. the marginal is decreasing
  e. the total is decreasing

[pikon]

Answer to Question 1

C

Answer to Question 2

A