Economics · Cost Curves

Which of the following correctly explains why the Long Run Marginal Cost (LRMC) curve passes through the minimum of the Long Run Average Cost (LRAC) curve? A. When LRMC LRAC, each additional unit raises LRAC, so LRAC is rising. C. At the minimum of LRAC, LRMC = LRAC, so the curve intersects at that point. D. This property is analogous to the mathematical relationship between any marginal and average curve. E. LRMC and LRAC intersect at the minimum point because marginal cost is always below average cost at low output levels.