Which of the following statements is not correct?
A) the marginal cost curve always intersects the average total cost curve at the minimum point of the ATC curve
B) when marginal product is decreasing, marginal cost is decreasing
C) diminishing returns only influence costs in the short run
D) marginal product is at a maximum when marginal cost is at a minimum
Correct Answer:
Verified
Q24: Which of the following is most likely
Q25: Fixed costs:
A) are only present in the
Q26: Which of the following is most likely
Q27: If the total cost of producing 4
Q28: Marginal cost means:
A) the increase in total
Q30: As output increases, the ATC and AVC
Q31: The short-run average cost curve has a
Q32: If marginal cost is increasing but is
Q33: If marginal cost is decreasing and is
Q34: Max is taking a economics class in
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