When the cost curves have U-shapes, at the point where marginal cost equals average total cost:
a. b and c.
b. marginal cost is rising.
c. average total cost is at its minimum.
d. average variable cost is falling.
e. the fixed cost has been fully depreciated.
a
Economics
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A) applies to proprietorships only. B) applies to proprietorships and partnerships only. C) applies to corporations only. D) applies to all forms of business.
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In the United States, business cycles have occurred against a backdrop of a long-run trend of:
A. declining unemployment. B. stagnant productivity growth. C. rising real GDP. D. rising inflation.
Economics