Multiple Choice
As output increases, AVC approaches ATC because of
A) diseconomies of scale.
B) diminishing marginal returns.
C) decreasing average fixed cost.
D) increasing marginal cost.
Correct Answer:

Verified
Correct Answer:
Verified
Q474: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8586/.jpg" alt=" -In the figure
Q475: Cost schedule<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8586/.jpg" alt="Cost schedule
Q476: When the marginal product of labor exceeds
Q477: At that amount of output where diminishing
Q478: Total Product, Marginal Product, Average Product<br> <img
Q480: In the long run, total fixed cost
Q481: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8586/.jpg" alt=" -In the above
Q482: The vertical distance between a firm's average
Q483: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8586/.jpg" alt=" -The cost data
Q484: Are the short-run average total cost curve