Multiple Choice
Which of the following statements is false?
A) When the marginal product of labor is upward sloping, the marginal cost curve is upward sloping.
B) The average fixed cost curve is downward sloping and approaches the horizontal axis.
C) The marginal cost curve intersects the average variable cost curve at the minimum of average variable cost.
D) When the marginal cost curve is above the average cost curve, the average cost curve is upward sloping.
Correct Answer:
Verified
Correct Answer:
Verified
Q22: Figure and Table: Variable, Fixed, and Total
Q23: (Table: Labor and Output) Look at the
Q24: When diseconomies of scale occur, the:<br>A)long-run average
Q25: (Table: Costs of Birthday Cakes) Annie has
Q26: If a firm has lower costs per
Q28: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB1063/.jpg" alt=" (Table:
Q29: Figure: Short-Run Costs II<br>(Figure: Short-Run Costs II)
Q30: Figure: A Firm's Cost Curves <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB1063/.jpg"
Q31: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB1063/.jpg" alt=" (Table: Output and
Q32: Figure and Table: Variable, Fixed, and Total