In the short run,which of the following statements is correct?

A) The marginal cost curve intersects the average variable and average fixed cost curves at their minimum points.
B) Average variable cost declines continuously as total output is expanded.
C) Total cost will exceed variable cost.
D) If the inputs of all resources are increased by equal amounts,total output will expand by diminishing amounts.

Marginal Cost

The additional cost incurred by producing one more unit of a good or service, which can influence production and pricing decisions.

Average Fixed Cost

The fixed costs of production (costs that do not change with the level of output) divided by the quantity of output produced, which decreases as production increases.

Total Cost

The sum of fixed costs and variable costs incurred by a business in the production of a good or service.