Statement I: In the short run,when output is zero,total cost is zero.
Statement II: Average fixed cost plus average variable cost equals average total cost.
A) Statement I is true and statement II is false.
B) Statement II is true and statement I is false.
C) Both statements are true.
D) Both statements are false.
Correct Answer:
Verified
Q95: Which is the most accurate statement?
A)There is
Q96: In the short-run,when output is zero,
A)fixed cost
Q97: When output is 1,
A)marginal cost equals variable
Q98: Q99: Economies of scale include each of the Q101: If ATC is rising,MC Q102: Statement I: At an output of 0,variable
A)must be below ATC.
B)may
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