5. If at some quantity of output O the marginal cost MC is below the average total cost AC then a. the average variable cost AlC is downward sloping at b. the AVC is greater than AC at O c. the AC is downward sloping at O d. the MC must be downward sloping at O7. The mini im average cost point is a. the shutdown point b. the breakeven point c. the profit-maximizing point d. the sunk cost curve2. A profit maximizing monopolist practicing ordinary (third degree) price discrimination would charge a higher price a. in the market with greater elasticity b. in the market with greater demand c. in the market with lower demand d. in the market with lower elasticity