If marginal costs are rising, average total costs must be rising.
Answer the following statement true (T) or false (F)
False
Average total costs will fall as long as marginal cost is less than average total cost. This is true even if marginal costs are increasing.
Economics
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The date at which a recession starts is called the
A) trough. B) peak. C) depression. D) plateau.
Economics
One of the benefits of specialization is
A) greater output. B) people enjoy doing one repetitive task over and over. C) specialists cost less to hire. D) training costs are higher.
Economics