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Which of the following statements are true? (i) ATC is equal to MC where MC is...

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Economics

Which of the following statements are true? (i) ATC is equal to MC where MC is at a minimum. (ii) The shut-down point of a perfectly competitive firm is at the minimum point on its short-run AVC curve. (iii) The vertical distance between the average total- and AVC curves is equal to AFC. Statements (i) and (ii) Only statement (iii) Statement (i) and (iii) Statements (ii) and (iii) All of the statements are true. The correct answer is not provided by any of the options above.

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