When marginal cost is increasing, average total cost must be increasing
a. True
b. False
Indicate whether the statement is true or false
False
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If the inflation rate is 3 percent and the real interest rate is 3 percent, then what is the nominal interest rate?
What will be an ideal response?
Monopolies and oligopolies both erect barriers to entry through the use of
A) price cutting. B) patents. C) franchising. D) advertising.
If fast food is an inferior good then:
A. the demand for fast food will fall as income falls. B. the demand for fast food will fall as income rises. C. the demand for fast food will fall as the price of fast food rises. D. the quantity of fast food demanded will rise as the price of fast food rises.
For a perfect competitor, the marginal revenue curve will be
A) horizontal. B) vertical. C) positively sloped. D) negatively sloped.