Which of the following statements is incorrect? A)MC curve passes through the minimum point of the ATC curve. B)When MC is higher than ATC, AVC decreases as the output increases. C)The vertical distance between ATC curve and AVC curve decreases as the output increases. D)When MC is lower than AVC, ATC decreases as the output increases.

Which of the following statements is incorrect? A)MC curve passes through the minimum point of the ATC curve. B)When MC is higher than ATC, AVC decreases as the output increases. C)The vertical distance between ATC curve and AVC curve decreases as the output increases. D)When MC is lower than AVC, ATC decreases as the output increases.

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter21: Production And Costs

Section21.3: Production

Problem 3ST

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