Can a firm's average variable costs be falling if they are less than the firm's marginal costs? Explain
No, because average variable cost is determined by marginal cost. If the marginal cost is higher than the
average variable cost, then they are pulling the average variable costs up, and so the average variable cost
will be rising.
Economics
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If an industry has 25 firms that collectively have $150 million in total sales and the top three firms in this industry account for $78 million in sales and the fifth through twenty-fifth firms account for $60 million in sales, what is the amount of
sales for the fourth largest firm? A) $12 million B) $6 million C) $18 million D) none of the above
Economics
How can an economy achieve full employment without igniting inflation?
What will be an ideal response?
Economics