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Which of the Following Statements Is True

Question 184

Multiple Choice

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

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