The MC curve must be * rising when TC is rising. less than AFC when the average cost is rising. greater than ATC when the average curve is rising. falling when the ATC curve lies below
The MC curve must be * rising when TC is rising. less than AFC when the average cost is rising. greater than ATC when the average curve is rising. falling when the ATC curve lies below
Managerial Economics: A Problem Solving Approach
5th Edition
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Chapter7: Economies Of Scale And Scope
Section: Chapter Questions
Problem 11MC
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Question
The MC curve must be *
rising when TC is rising.
less than AFC when the average cost is rising.
greater than
falling when the ATC curve lies below the marginal curve.
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