The minimum point on the marginal cost curve corresponds to the: ...

[Zoey63294]

The minimum point on the marginal cost curve corresponds to the:
 a. maximum point on the total cost curve.
  b. minimum point on the total cost curve.
  c. inflection point on the total variable cost curve.
  d. midpoint of the total cost curve.

Question 2

The term inflation is used to describe a(n):
 a. rise in the value of money.
 b. decline in nominal income.
 c. sustained increase in the price level.
 d. general reduction in prices.
 e. economic problem faced only by the elderly population.

[Animal_Goddess]

Answer to Question 1

c

Answer to Question 2

c