Which statement is false?
A) The MC always intersects the ATC at its minimum point.
B) The MC always intersects the AVC at its minimum point.
C) The MC always intersects the AFC at its minimum point.
D) None of these statements are false.
Correct Answer:
Verified
Q17: As output rises,
A)AFC rises.
B)AFC falls.
C)AFC remains the
Q18: In the long run
A)all costs become fixed.
B)all
Q19: Which statement is true?
A)The marginal cost curve
Q20: The phrase "spreading the overhead" refers to
A)the
Q21: If a firm cannot cover its variable
Q23: A variable input is an input that
Q24: The basic characteristic of the short run
Q25: Which is most clearly a variable cost?
A)Rent
B)Insurance
Q26: Which statement is true?
A)Shutting down is a
Q27: Fixed costs are best defined as
A)costs that
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