The short-run average variable cost curve
a. is always downward-sloping
b. starts at the origin and always slopes upward
c. starts above the origin and always slopes upward
d. is a horizontal line intersecting the vertical axis
e. slopes downward at low rates of output, then slopes upward at higher rates of output
E
Economics
You might also like to view...
If voters do not have single-peaked preferences then a cyclical majority will arise
a. True b. False
Economics
In the long run, in the model of monopolistic competition, for a typical firm, price is
a. above average cost but equal to marginal cost. b. above marginal cost but equal to average cost. c. above marginal cost. d. equal to marginal cost and equal to or greater than average cost.
Economics