Hi, can you please help me with this question Suppose that the marginal cost of producing a tonne of wheat is $60, irrespective of the level of output, but there are also some fixed costs of production Which of the following statements is correct a The marginal cost curve is a horizontal straight line b The average cost curve is U shaped c The marginal cost curve intersects the average cost curve at its minimum point d The total cost curve is an upward sloping straight line through the origin

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Question: Hi, can you please help me with this question? Suppose that the marginal cost of producing a tonne of wheat is $60, irrespective of the

Hi, can you please help me with this question?

Suppose that the marginal cost of producing a tonne of wheat is $60, irrespective of the level of output, but there are also some fixed costs of production. Which of the following statements is correct?

The marginal cost curve is a horizontal straight line.

The average cost curve is U-shaped.

The marginal cost curve intersects the average cost curve at its minimum point.

The total cost curve is an upward-sloping straight line through the origin.

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