Which of the following statements is false?
A) Marginal cost will equal average total cost when marginal cost is at its lowest point.
B) When marginal cost is greater than average total cost, average total cost will rise.
C) Marginal cost will equal average total cost when average total cost is at its lowest point.
D) When marginal cost is less than average total cost, average total cost will fall.
A
You might also like to view...
A theory or model is a simplification of reality, in much the same way that a road map shows only those features needed to get from one point to another.
a. true b. false
Bill purchases property insurance for his office building, which includes coverage for fire damage. The policy offers premium discounts for smoke detectors, fire alarms, fire extinguishers and sprinkler systems
This is an incentive system to help avoid A) adverse selection. B) moral hazard. C) optimal-stopping. D) none of the above