Which of the following statements regarding short-term theory of production and cost analysis are true?
(A) Economic rent is the same as economic profit
(B) Imputed cost is the rent of hired building
(C) When AC=MC. AC is minimum
(D) When MC is rising, AC >MC
(E) Output is optimum when AC = MC
Choose the most appropriate answer from the options given below:
1
(A), (D), (E) Only:
2
(A), (C), (E) Only
3
(B), (C), (D) Only
4
(A), (B), (D), (E) Only