Multiple Choice
Which of the following statements regarding the relationship between average and marginal costs is INCORRECT?
A) There is always a definite relationship between average and marginal cost.
B) When marginal costs are less than average costs, the latter must fall.
C) When marginal costs are greater than average costs, the latter must rise.
D) There is no way for average variable costs to fall when marginal costs are falling.
Correct Answer:
Verified
Correct Answer:
Verified
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