Question

At the point where marginal cost equals average variable cost,

b and c.


marginal cost is rising.


average total cost is at its minimum.


average variable cost is falling.


there is no total cost.

Answer 1

[AI-generated answer — Bot GPT 3.5]

None of the above statements are true. At the point where marginal cost equals average variable cost, it means that the cost of producing an additional unit is equal to the average cost of producing each unit. It does not necessarily mean that any of the other statements are true.