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In the theory of production and cost, the average total cost of a firm is…

In the theory of production and cost, the average total cost of a firm is minimized when the marginal cost curve cuts the average total cost curve at its?
  • A.
    lowest point
  • B.
    middle point
  • C.
    maximum point
  • D.
    downward slopping section
Correct Answer: Option A
Explanation