Which of the following statements about cost curves is always true?
a. ATC decreases as output increases.
b. AFC increases as output increases.
c. AFC lies above AVC.
d. ATC lies above AVC.
e. MC lies below ATC.
D
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A consequence of the quota that has been imposed on the importation of sugar into the United States is
A) consumers are protected from eating unsafe products made from cheap imported sugar. B) competition in the U.S. sugar market is reduced. C) the cost of producing cereal, chocolate, and candy products in the United States is reduced. D) the market for sugar in the United States has become monopolistically competitive rather than oligopolistic.
Few bother to think about what makes Florida oranges show up daily in South Dakota supermarkets, but the people of South Dakota are likely to think a great deal about this. Why does someone take the time and energy to assure that oranges that are grown in Florida move more than 1,000 miles before they appear on grocery shelves?
What will be an ideal response?