As output increases, the ATC and AVC curves get closer together because:
A) marginal costs cause both to continually increase.
B) average fixed costs become less and less.
C) fixed costs disappear in the long run.
D) none of the above is necessarily correct
Correct Answer:
Verified
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
Q29: Which of the following statements is not
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
Q35: Economies of scale:
A) only occur in very
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