Which of the following must be true if the short-run average total cost curve is declining?
A) Marginal cost is less than average total cost.
B) Marginal cost is less than average variable cost.
C) Marginal cost is greater than average total cost.
D) Marginal cost equals average total cost.
Correct Answer:
Verified
Q114: Exhibit 11-7 Q115: A firm's average fixed cost when producing Q116: If average total cost equals $15 at Q117: If the total cost of producing 10 Q118: If average variable cost exceeds marginal cost,then: Q120: Luke realizes that his space taxi service Q121: Economic profits are: Q122: When economies of scale exist,an increase in Q123: When economies of scale exist: Q124: Diseconomies of scale are associated with:
A)
A) less than accounting profits
A) per unit
A) a
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