Marginal cost:
A) is calculated by change in total cost divided by change in total output.
B) is calculated by change in total output divided by change in total cost.
C) increases then decreases,as output increases,to reflect marginal product.
D) None of these is true.
Correct Answer:
Verified
Q103: Average variable costs:
A) always trend upward as
Q107: A cigar factory employs 20 workers and
Q108: The marginal cost curve:
A)is U-shaped.
B)rises when marginal
Q111: Suppose a sandwich shop currently employs four
Q111: Average fixed costs:
A)always trend downward as output
Q111: A bracelet making company has three employees,and
Q112: In general,the cost of an input:
A)stays the
Q113: The total cost curve:
A) is the sum
Q114: Average product tells us:
A)the level of inputs
Q129: Average variable costs:
A)decrease when marginal product rises
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