Multiple Choice
Which of the following statements regarding the relationship between average cost and marginal cost is not true?
A) When marginal cost is below average total cost,average total cost falls.
B) When marginal cost is above average variable cost,average variable cost rises.
C) When marginal cost is equal to average total cost,average total cost is minimized.
D) When marginal cost is above average fixed cost,average fixed cost rises.
Correct Answer:
Verified
Correct Answer:
Verified
Q39: Economic analysis suggests that if the marginal
Q40: For the cubic total cost function TC
Q41: The law of diminishing marginal returns:<br>A)is relevant
Q42: If total fixed costs are $1,000,variable costs
Q43: Which of the following statements about marginal
Q45: If there are no fixed costs and
Q46: A total product curve whose slope is
Q47: Which of the following determines the shape
Q48: A firm's costs are determined by:<br>A)its production
Q49: In the short-run,diminishing marginal returns are associated