Question

What is the relationship between average total cost (ATC) and marginal cost (MC)? A. It is exactly the same as the relationship between the AVC curve and the MC curve. B. The ATC curve lags behind the MC curve even more than the AVC curve does. ° C. The MC curve intersects the ATC curve at its minimum point. D. The ATC curve follows the MC curve but lags behind because it is an average over all units of output.E. All of the above.

Answer 1

C

Step-by-step explanation:

The relationship between average total cost (ATC) and marginal cost (MC) is that the MC curve intersects the ATC curve at its minimum point.