The below figure shows the various combinations of the goods X and Y that yield different levels of utility.Figure 7.3

-If the average variable cost of a firm is falling, then the:
A) average fixed cost must be rising.
B) marginal cost must be falling.
C) marginal cost must be rising.
D) marginal cost lies below the average variable cost.
E) marginal cost lies above the average variable cost.
Correct Answer:
Verified
Q15: The below figure shows the various combinations
Q16: The below figure shows the various combinations
Q17: The below figure shows the various combinations
Q18: The below figure shows the various combinations
Q19: The below figure shows the various combinations
Q21: The figure given below shows cost curves
Q22: The below figure shows the various combinations
Q23: The below figure shows the various combinations
Q24: The figure given below shows cost curves
Q25: The figure given below shows the average
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