The average variable cost curve and average total cost curve tend to converge as output rises because * the marginal cost curve intersects the average total cost curve at its minimum. the average fixed costs are constant as output rises. the difference between them (average fixed cost) declines. O output is rising more rapidly than inputs are being increased.
The average variable cost curve and average total cost curve tend to converge as output rises because * the marginal cost curve intersects the average total cost curve at its minimum. the average fixed costs are constant as output rises. the difference between them (average fixed cost) declines. O output is rising more rapidly than inputs are being increased.
Chapter6: Proudction Costs
Section: Chapter Questions
Problem 4SQ
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![The average variable cost curve and average total cost curve tend to
converge as output rises because *
the marginal cost curve intersects the average total cost curve at its minimum.
the average fixed costs are constant as output rises.
the difference between them (average fixed cost) declines.
output is rising more rapidly than inputs are being increased.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fbe8668a0-e1a8-4aa4-8655-66d6fca8471c%2F6ae0306b-1a51-4d18-92da-9d0ffe0a0fe5%2Fhip3wa_processed.png&w=3840&q=75)
Transcribed Image Text:The average variable cost curve and average total cost curve tend to
converge as output rises because *
the marginal cost curve intersects the average total cost curve at its minimum.
the average fixed costs are constant as output rises.
the difference between them (average fixed cost) declines.
output is rising more rapidly than inputs are being increased.
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