If average cost is decreasing, then marginal cost
a. Must be increasing
b. Must be greater than average cost
c. Must be less than average cost
d. None of the above
c
Economics
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What is an ascending-value auction?
Economics
At a given output level, a monopolist earns a profit only if the
a. slope of its TR curve exceeds the slope of his TC curve. b. height of its MR curve exceeds the height of his MC curve. c. height of its demand curve exceeds the height of his MR curve. d. height of its demand curve exceeds the height of his ATC curve.
Economics