Which of the following statements is correct? rev: 06_26_2018 Multiple Choice Marginal cost is the change in the average fixed cost associated with a change in output of one unit. The marginal cost curve intersects the average variable cost curve at its lowest point. The marginal cost curve intersects the average variable cost curve at a level of output greater than where the marginal cost curve intersects the average total cost curve. If average variable cost is increasing, then average total cost must be increasing too.
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