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2. Examine the Diagram below and answer the related questions below. (20 points) A. The point of diminishing returns occurs when marginal cost begin to
2. Examine the Diagram below and answer the related questions below. (20 points) A. The point of diminishing returns occurs when marginal cost begin to rise. This point always occurs at an output level less than the quantity where the average total cost is minimum. True or false _______ B. When the marginal cost = the average variable cost, the average variable cost must be at the _________________ point. C. When marginal cost is above the average cost the average cost must be ________. Increasing, falling, remaining the same, this cannot be determined.D. As Q increases, why does the AVC curve get closer and closer to the ATC curve without ever touching it
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