Which of the following is true with respect to SMC (Short run marginal cost) and SAC (Short run Average cost) ?

A

SMC curve cuts the SAC curve from above at the maximum point of SAC

B

SAC curve cuts the SMC curve from below at the minimum point of SMC

C

SAC curve cuts the SMC curve from above at the maximum point of SMC

D

SMC curve cuts the SAC curve from below at the minimum point of SAC