The vertical distance between the average total cost and average variable cost curves falls as output rises.
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Q7: If marginal costs are rising, average total
Q8: When average total cost is rising, the
Q9: If total cost is 100, total fixed
Q10: A business owner makes 50 items by
Q11: A business owner makes 50 items by
Q13: A business produces 400 items and sells
Q14: Fixed costs remain the same regardless of
Q15: A business produces eight items and sells
Q16: Accounting profit is equal to:
A) implicit revenue
Q17: As output increases, average total cost always
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