Producing an additional unit whose marginal cost exceeds the average total cost incurred thus far has the effect of pulling the
A) fixed cost up.
B) average cost up.
C) average cost down.
D) total cost down.
Correct Answer:
Verified
Q21: Geometrically, marginal cost at any level of
Q22: Average variable cost is
A)the ratio of total
Q23: The total fixed cost function
A)is horizontal.
B)is U-shaped.
C)is
Q24: The long-run total cost of zero output
Q25: MC equals
A)ΔTC/ΔQ.
B)ΔVC/ΔQ.
C)FC/Q.
D)VC/Q.
Q27: The slope of a ray from the
Q28: Average fixed cost
A)is a horizontal line.
B)increases steadily
Q29: When marginal cost is greater than average
Q30: The AFC curve
A)always slopes downward.
B)is U-shaped.
C)is a
Q31: The MC curve slopes upward due to
A)increasing
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