Which statement is true?
A) AFC declines with output.
B) ATC declines with output.
C) AFC - AVC = ATC.
D) Output divided by fixed cost = AFC.
Correct Answer:
Verified
Q9: If fixed cost is $8,000,variable cost is
Q10: If marginal output is rising it is
Q11: The MC curve intersects the AVC and
Q12: The law of diminishing returns states that
Q13: In the short run,output
A)can be varied by
Q15: The law of diminishing marginal returns implies
A)the
Q16: When average total cost is declining,then
A)marginal cost
Q17: As output rises,
A)AFC rises.
B)AFC falls.
C)AFC remains the
Q18: In the long run
A)all costs become fixed.
B)all
Q19: Which statement is true?
A)The marginal cost curve
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