Which of the following is true for all units of output produced?
A) Marginal cost is less than average total cost.
B) Marginal cost is greater than average total cost.
C) Average variable cost is less than average total cost.
D) Average fixed cost is less than average variable cost.
Correct Answer:
Verified
Q71: If marginal cost is above average variable
Q77: As output increases,total cost also increases.Therefore,
A) marginal
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