If the total variable cost curve is a straight line then the
A) total cost curve will also be a straight line.
B) total cost curve may or may not be a straight line.
C) marginal cost function is downward sloping.
D) marginal cost function is upward sloping.
Correct Answer:
Verified
Q27: The slope of a ray from the
Q28: Average fixed cost
A)is a horizontal line.
B)increases steadily
Q29: When marginal cost is greater than average
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
Q33: Marginal cost is defined as
A)the rate at
Q34: In order to divide a given production
Q35: The vertical distance between the average total
Q36: Markets characterized by declining long-run average costs
Q37: ATC equals
A)AVC - AFC.
B)FC/Q.
C)(TFC + TVC)/Q.
D)MC +
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