Which of the following statements is true?
A) At a high level of output, AFC is zero.
B) If the law of diminishing marginal returns did not exist, then the marginal cost curve would not have an upward-sloping portion.
C) The marginal cost curve cuts the average fixed cost curve at its minimum.
D) There are no fixed costs in the short run.
E) none of the above
Correct Answer:
Verified
Q179: If AFC is $8 at a quantity
Q180: Average productivity of labor equals
A)the change in
Q181: Which of the following will not change
Q182: Exhibit 21-11 Q183: Exhibit 21-11 Q185: When a firm earns zero economic profit, Unlock this Answer For Free Now! View this answer and more for free by performing one of the following actions Scan the QR code to install the App and get 2 free unlocks Unlock quizzes for free by uploading documents