As long as marginal cost is less than average variable cost:
a. both average total costs and average variable costs will be falling.
b. average total costs will be falling but average costs may be rising or falling.
c. average fixed costs are rising.
d. average total costs are falling but average fixed costs may be rising.
a
Economics
You might also like to view...
A marginally attached worker
i. does not have a job and has not looked for one in the last month. ii. is available and willing to work. iii. must work at least 1 hour per week. A) iii only B) ii only C) ii and iii D) i and ii E) i only
Economics
In IS-LM analysis, the nominal interest rate is
A) purely a monetary phenomenon. B) purely a real phenomenon. C) both a monetary and a real phenomenon. D) neither a real nor a monetary phenomenon, but determined by government policy.
Economics