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:
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Q24: The long-run total cost of zero output
Q25: MC equals
A)ΔTC/ΔQ.
B)ΔVC/ΔQ.
C)FC/Q.
D)VC/Q.
Q26: Producing an additional unit whose marginal cost
Q27: The slope of a ray from the
Q28: Average fixed cost
A)is a horizontal line.
B)increases steadily
Q30: The AFC curve
A)always slopes downward.
B)is U-shaped.
C)is a
Q31: The MC curve slopes upward due to
A)increasing
Q32: If the total variable cost curve is
Q33: Marginal cost is defined as
A)the rate at
Q34: In order to divide a given production
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