mine if the The ATC is rising when the MC is below the ATC. ATC= True FC + VC Q Answer Bank All costs are either fixed or variable. The average fixed cost curve is downward-sloping. The ATC is always greater than or equal to AVC. MC refers to the change in total cost associated with the production of another unit. False TC FC + VC + MC The ATC crosses the MC at the lowest point on the M Average fixed cost is always higher than average variable cost.
mine if the The ATC is rising when the MC is below the ATC. ATC= True FC + VC Q Answer Bank All costs are either fixed or variable. The average fixed cost curve is downward-sloping. The ATC is always greater than or equal to AVC. MC refers to the change in total cost associated with the production of another unit. False TC FC + VC + MC The ATC crosses the MC at the lowest point on the M Average fixed cost is always higher than average variable cost.
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
Chapter4: Extent (how Much) Decisions
Section: Chapter Questions
Problem 3MC
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