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Consider the three figures below, depicting possible cost functions for a firm. The horizontal axis measures output in all figures, while the vertical axis measures
Consider the three figures below, depicting possible cost functions for a firm. The horizontal axis measures output in all figures, while the vertical axis measures dollars. A B C Which of the following statements are correct? Choose one or more: O A. Figure A could represent the average total cost. O B. Figure B could represent the average total cost. O C. Figure C could represent the average total cost. D. If Figure B represents the average variable cost, then Figure C could not represent the average total cost. O E. If Figure B represents the marginal cost, then Figure C cannot represent the average total cost
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