Question 12 1 pts Consider the following statements: (i) If a firm has a U-shaped average variable cost curve, the firm's marginal cost curve must intersect its average variable cost curve at the minimum average variable cost. (ii) If marginal cost is increasing than average variable cost must be increasing. (iii) For a firm operating in the short run, if the marginal product of the firm's variable input falls, the firms marginal cost must rise. Which of the above statements are true? (iii) only O (i), (ii) and (iii) O (ii) and (iii) only O (ii) only None of the statements are true. O (i) and (ii) only O (i) only O (i) and (iii) only