For the Cost Function Consider the Following Statements

Multiple Choice

For the cost function Consider the following statements:
I.the function exhibits decreasing average cost.
II.the function is homogeneous of degree 1 in v and w.
III.the elasticity of marginal cost with respect to v exceeds the elasticity with respect to w.

A) none is true.
B) all are true.
C) only I is true.
D) only I and II are true.