When marginal cost is greater than average total cost,
A) Average total cost must be increasing with output
B) Average variable cost must be decreasing with output
C) Average fixed cost must be increasing with output
D) Marginal cost must be increasing with output
Correct Answer:
Verified
Q20: Output for a simple production process is
Q32: Average variable cost is
A)The ratio of total
Q33: MC equals Q34: In order to divide a given production Q35: Average fixed cost Q36: Say at the current output level marginal Q38: The slope of a ray from the Q40: The AFC curve Q41: With constant returns to scale and factor Q42: Suppose you have the following values for
A)
A)Is a horizontal line
B)Increases steadily
A)Always slopes downward
B)Is U-shaped
C)Is a
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