Asked by
Imily Menorath
on Oct 14, 2024
Verified
The average variable cost curve must always be U-shaped.
Average Variable Cost Curve
A graph that represents the variable costs of production divided by the quantity of output, illustrating how cost changes with changes in output.
U-Shaped
Describing a type of graph or relationship where the values fall, then rise, forming a shape similar to the letter "U".
- Grasp the interconnection among marginal, average, and total costs in various production circumstances.
Verified Answer
KM
Learning Objectives
- Grasp the interconnection among marginal, average, and total costs in various production circumstances.
Related questions
If Marginal Costs Increase as Output Increases, Then the Average ...
If the Average Cost Curve Is U-Shaped, Then the Marginal ...
The Production Function of a Competitive Firm Is Described by ...
Average Cost Can Never Rise While Marginal Costs Are Declining
The Marginal Cost Curve Passes Through the Minimum Point of ...