If marginal cost is below average total cost, then average total cost
a. is constant.
b. is falling.
c. is rising.
d. may rise or fall depending on the size of fixed costs.
b
Economics
You might also like to view...
Explain why some people who are applying for a job at a bank dress up, arrive early, and have their paperwork neatly completed for the job interview
What will be an ideal response?
Economics
Prisoners sometimes determine a single good to be used as money. This good becomes
a. a medium of exchange and a unit of account. b. a medium of exchange, but not a unit of account. c. a unit of account, but not a medium of exchange. d. neither a unit of account nor a medium of exchange.
Economics