According to the video, when marginal cost is greater than average cost, what happens?
a. Average cost rises.
b. Average cost falls.
c. Average cost is minimized.
d. Average cost is constant.
Answer: a. Average cost rises.
Economics
You might also like to view...
If oil prices increase, then in the short run, real GDP will ________ and the price level will ________
A) increase; rise B) increase; fall C) decrease; rise D) decrease; fall E) not change; rise
Economics
When the money supply increases
a. interest rates fall and so aggregate demand shifts right. b. interest rates fall and so aggregate demand shifts left. c. interest rates rise and so aggregate demand shifts right. d. interest rates rise and so aggregate demand shifts left.
Economics