Statement I: In the short run,output can be varied by changing the size of factories.
Statement II: The MC curve intersects the AVC and ATC curves at their minimum points most of the time.
A)Statement I is true and statement II is false.
B)Statement II is true and statement I is false.
C)Both statements are true.
D)Both statements are false.

Question

Quizplus · Accepted Answer

The Answer of Statement I: In the short run,output can be varied by changing the size of factories.
Statement II: The MC curve intersects the AVC and ATC curves at their minimum points most of the time.
A)Statement I is true and statement II is false.
B)Statement II is true and statement I is false.
C)Both statements are true.
D)Both statements are false.

Statement I: in the Short Run,output Can Be Varied by Changing