If marginal cost is less than average total cost, a. average variable cost must be decreasing. b. marginal cost must be decreasing.O c. average total cost is decreasing. d. average total cost is increasing.

If marginal cost is less than average total cost, a. average variable cost must be decreasing. b. marginal cost must be decreasing.O c. average total cost is decreasing. d. average total cost is increasing.

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter12: The Cost Of Production

Section: Chapter Questions

Problem 4CQQ

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If marginal cost is less than average total cost, a. average variable cost must be decreasing.
b. marginal cost must be decreasing.O c. average total cost is decreasing. d. average total
cost is increasing.

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