Economics 9708 · AS & A Level · 7.5

7.5 — practice question

The diagram illustrates a firm’s short-run total cost curve (TC). Which statement is the correct one?

  • AAverage variable cost is minimised at output OQ3.
  • BMarginal cost is minimised at output OQ1.
  • CAverage variable cost is minimised at output OQ1.
  • DAverage total cost is minimised at output OQ2.

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