Multiple Choice
At its current level of output, a firm's average cost is $25 and its marginal cost is $20.If the firm increases output by one unit and marginal cost is $22, average cost will be
A) greater than $25.
B) equal to $25.
C) less than $25.
D) equal to marginal cost.
Correct Answer:
Verified
Correct Answer:
Verified
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