Assuming fixed costs are positive, over a range of output in which average total costs were constant,
a. average variable costs would be constant as output increases.
b. average variable costs would be falling as output increases.
c. average variable costs would be rising as output increases.
d. marginal cost would be less than average variable cost.
c
Economics
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When the Fed purchases artwork to decorate the conference room at the Federal Reserve Bank of Kansas City
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If a firm doesn't make an economic profit it will shut down
Indicate whether the statement is true or false
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