Choose the statement that is correct.
a. the mc curve intersects the afc, avc, and atc curves at their minimums.
b. the atc curve eventually slopes upward because average variable cost eventually increases.
c. an increase in output always increases average total cost.
d. initially as output increases, average variable cost decreases, so average total cost decreases and the atc curve slopes downward. average fixed cost remains unchanged.

What is the difference between total utility and marginal utility? a. marginal utility is subject to the law of diminishing marginal utility while total utility is not. b. total utility represents the consumer optimum while marginal utility gives the total utility per dollar spent on the last unit. c. total utility is the total amount of satisfaction derived from consuming a certain amount of a good while marginal utility is the additional satisfaction gained from consuming an additional unit of the good. d. marginal utility represents the consumer optimum while total utility gives the total utility per dollar spent on the last unit.