Which of the following is true regarding the relationship between marginal cost and average variable cost? o if mc is greater than atc and avc, then atc and avc will increase.
o the atc and avc curves intersect the mc curve at minimum mc.
o the mc curve, atc curve, and avc curve all intersect at the same point.
o at each level of output, mc is equal to difference between avc and atc.

Why is it easier for new entrants to get involved in radical innovations when compared to incumbent firms? a. unlike incumbent firms, new entrants do not have to face the high entry barriers, initially. b. new entrants are embedded in an innovation ecosystem, while incumbent firms are not. c. unlike incumbent firms, new entrants do not have formal organizational structures and processes. d. incumbent firms do not have the advantages of network effects that new entrants have.