Multiple Choice
At 150,000 units of output, a firm's marginal cost is $0.87 and its average total cost is $0.48.We can conclude that at this quantity of output the firm's average total cost curve is:
A) upward-sloping.
B) downward-sloping.
C) vertical.
D) horizontal.
Correct Answer:
Verified
Correct Answer:
Verified
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