If ATC is $100, AVC is $90 and MC is $80, then
A. ATC is rising and AVC is rising.
B. ATC is falling and AVC is falling.
C. ATC is rising and AVC is falling.
D. ATC is falling and AVC is rising.
B. ATC is falling and AVC is falling.
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Demand is inelastic if
A) a given percentage change in price will result in a less than proportionate percentage change in the quantity demanded. B) demand exhibits zero responsiveness to price changes. C) small price increases will lead to zero quantity demanded. D) a given percentage change in price will result in a greater than proportionate percentage change in the quantity demanded.
Goods and services that the United States buys from other nations are called
A) exports. B) imports. C) bartered goods. D) exchanges. E) world goods.
Which of the following is most likely to reduce an individual's current spending?
A) Paying back a loan in the future B) Depositing money in a bank today C) Borrowing money today D) Withdrawing money in the future
What are a few ways that e-commerce has impacted transactions throughout the years?