A cost that changes with the level of production is called a(n)____cost a.variable b.average total c.marginal b.fixed

As long as marginal cost is below average cost, average cost will be a. falling b. rising. c. constant. d. changing in a direction that cannot be determined without more information.

Fixed cost is a. Any cost that does not vary with the quantity of output. b. The ratio of total cost to total quantity of output.  c. The market value of an asset at the end of its life less its disposal costs. d. The incremental cost of producing one more unit of output.

If the marginal cost of production is greater than the average cost, in what direction must the average cost be changing if any?   A. The average cost must be rising. B. The average cost would equal 0. C. The average cost must be falling. D. The average cost is unaffected. E. The average cost would become non-existent.