In the diagram, curves 1, 2, and 3 represent
A)average fixed cost, average variable cost, and average total cost respectively.
B)total variable cost, total fixed cost, and total cost respectively.
C)total fixed cost, total variable cost, and total cost respectively.
D)marginal product, average variable cost, and average total cost respectively.

Question

In the diagram, curves 1, 2, and 3 represent
A)average fixed cost, average variable cost, and average total cost respectively. 
B)total variable cost, total fixed cost, and total cost respectively. 
C)total fixed cost, total variable cost, and total cost respectively. 
D)marginal product, average variable cost, and average total cost respectively.

Quizplus · Accepted Answer

The Answer of  In the diagram, curves 1, 2, and 3 represent
A)average fixed cost, average variable cost, and average total cost respectively. 
B)total variable cost, total fixed cost, and total cost respectively. 
C)total fixed cost, total variable cost, and total cost respectively. 
D)marginal product, average variable cost, and average total cost respectively.

In the Diagram, Curves 1, 2, and 3 Represent