The vertical distance between average total cost and average variable cost curves decreases as output increases because
A) it is traditional to draw the curves that way.
B) marginal cost first falls and then rises.
C) in geometry, both curves must reach their minimums on the marginal cost curve.
D) marginal product first rises and then falls.
E) average fixed cost decreases as output increases.
Correct Answer:
Verified
Q21: Labor costs are a typical example of
Q22: Which of the following formulas is correct?
A)AVC
Q23: Average fixed cost is the difference between
Q24: Fixed cost does not vary with the
Q25: Exhibit 8-3 Q27: Fixed costs do not exist in the Q28: Which of the following statements about average Q29: If a firm is experiencing diminishing returns![]()
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