alleryMatch each short-run cost curve with its geometric shape:
A1-A, 2-B, 3-C
B1-B, 2-A, 3-C
C1-C, 2-B, 3-A
D1-A, 2-C, 3-B
Answer & Solution
Correct answer: A. 1-A, 2-B, 3-C
AFC is rectangular hyperbola. ATC is U-shaped. MC cuts AC and AVC at their minimum points.
Keep practising Microeconomics: Producer Behaviour and Supply
Browse all Microeconomics: Producer Behaviour and Supply questions for CBSE Class 11 (Arts), or explore more Economics topics.
Related questions
Match each production period with its factor flexibility:Match each producer revenue / profit condition with its rule:Match each stage of the Law of Variable Proportions with its hallmark:What does a supply schedule show?Labour supply is the time people will work as a function of what?For a perfectly competitive seller, how is the price determined?What is said about a supply curve for a monopoly?A supply function can be derived only under which market structure?