answer question 9 QUESTION 9The diagram shows the short-run cost curves of a firm. Which statement is CORRECT?costsoutputO A. Curve 1 is the average fixed cost curve.O B. Curve 3 is the average variable cost curve.O C. Curve 2 is the marginal cost curve.O D. Curve 4 is the average total cost curve.

OPTION A is correct. Curve 1 is Average Fixed Cost Curve AFC = TFC/Q Since TFC is positive at levels…

Answered: The diagram shows the short-run cost…

Business

Economics

The diagram shows the short-run cost curves of a firm. Which statement is CORRECT? costs output

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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answer question 9

QUESTION 9
The diagram shows the short-run cost curves of a firm. Which statement is CORRECT?
costs
output
O A. Curve 1 is the average fixed cost curve.
O B. Curve 3 is the average variable cost curve.
O C. Curve 2 is the marginal cost curve.
O D. Curve 4 is the average total cost curve.

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