Marginal cost and average variable cost

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When a fine caterer produces 30 catered meals, its marginal cost and average variable cost each equal $10. Therefore, assuming normally shaped cost curves, at 29 meals:

a) its marginal cost is less than $10 and its average variable cost is more than $10.

b) its marginal cost and its average variable cost are each equal to $10.

c) its marginal cost is greater than $10 and its average variable cost is less than $10.

d) its marginal cost and its average variable cost are each greater than $10.

Reference no: EM131076668

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