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Which of the Following Statements Are True Or False? Give Valid Reasons in Support of Your Answer. Average Cost Curve Cuts Average Variable Cost Curve, at the Minimum Level - Economics

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MCQ
True or False

Explain whether the statement is true or false with reasons.

Average cost curve cuts Average variable cost curve, at the minimum level.

Options

  • True

  • False

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Solution

Average cost curve cuts Average variable cost curve, at the minimum level: This statement is false.
MC curve cuts AVC curve at the minimum level.

Concept: Cost - Average Cost
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