When MC is greater than AC, AC
A) rises
B) falls
C) maximum
D) minimum
Correct Answer:
Verified
Q6: Cost function relates cost to
A)input
B)output
C)raw material
D)machines
Q7: An increase in market demand, supply remaining
Q8: There is no distinction between firm and
Q9: A fall in the market demand, supply
Q10: The cost of next best alternative is
Q12: Supply curve represents -------- relationship between quantity
Q13: National Income means:
A)gnp at factor cost
B)gnp at
Q14: The difference between GDP and NDP equals:
A)transfer
Q15: Which of the following is true?
A)gnp +
Q16: Which of the following is not a
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