Marginal cost is equal to average total cost when
a. average variable cost is falling.
b. average fixed cost is rising.
c. marginal cost is at its minimum.
d. average total cost is at its minimum.
d
Economics
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How do a sole proprietorship and a corporation differ?
A) Proprietorships have unlimited liability while corporations have limited liability. B) Corporations face more taxes than do proprietorships. C) Corporations can issue stocks and bonds, while proprietorships cannot. D) All of these are differences between the two types of businesses.
Economics
When a firm’s fixed cost rises, its total profit curve shifts
A. up at every output level. B. down at every output level. C. left at every profit level. D. right at every profit level.
Economics