Economics · Relationships Among Cost Curves

Match LIST-I with LIST-II: LIST-I (Cost Curve) A. Short-run Marginal Cost (MC) curve B. Average Total Cost (ATC) curve C. Total Cost (TC) curve D. Long-Run Marginal Cost (LMC) curve LIST-II (Geometric Characteristic) I. It is exactly parallel to the Total Variable Cost curve but is shifted vertically upward by a constant amount. II. It cuts the Long-Run Average Cost (LAC) curve from below precisely at the minimum point of the LAC. III. Its minimum point occurs further to the right than the Average Variable Cost minimum because falling Average Fixed Cost keeps pulling it down. IV. Geometrically, it must always pass strictly through the lowest minimum points of both the Average Variable Cost and Average Total Cost curves. Choose the correct answer from the options given below: