Cost Of Production and Concept of Revenue — Economics STD 11 Commerce — Question
Gujarat BoardEnglish MediumSTD 11 CommerceEconomicsCost Of Production and Concept of Revenue1 Mark
Question
When the average cost is minimum?
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Answer
At the production level where increasing marginal cost curve intersect to average cost curve and where marginal cost is equal to average cost then the average cost is minimum.
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