Which of the following statement (s) is/

CUET Preparation Today

Start Free Mocks

Home Questions P778HFNHYX

Target Exam

CUET

Subject

Economics

Chapter

Micro Economics: Production and Costs

Question:

Which of the following statement (s) is/are correct?

Statement 1: SMC curve cuts the AVC curve from below at the minimum point of AVC.

Statement 2: SMC curve cuts the SAC curve from below at the minimum point of SAC.

Options:

Only Statement 1 is correct.

Only Statement 2 is correct.

Both statements are correct.

None of the given statement is correct.

Correct Answer:

Both statements are correct.

Explanation:

The correct answer is Option 3: Both statements are correct.