The least-cost way of producing a particular rate of output is ...

[jerry coleman]

The least-cost way of producing a particular rate of output is represented by a point of tangency between a short-run average cost curve and the
 a. total cost curve
  b. short-run average total cost curve
  c. average variable cost curve
  d. long-run average cost curve
  e. marginal cost curve

Question 2

Marginal cost indicates how much total cost increases if one more unit is produced or how much total cost drops if production declines by one unit.
 a. True
  b. False

[Viet Thy]

Answer to Question 1

D

Answer to Question 2

A

[jerry coleman]

Thank you

[Viet Thy]

No problemo