If the marginal cost of the 100th unit is $3.25, the total cost of producing 100 units is $825, and the fixed cost is $500,
A. average variable cost is higher than marginal cost.
B. marginal cost is falling.
C. average variable cost is at its minimum.
D. average total cost is increasing.
Answer: C
You might also like to view...
In the Keynesian model, an unwanted decrease in inventories leads to
A) falling interest rates. B) rising unemployment. C) rising output. D) falling money wages.
In the above figure, an increase in aggregate demand has resulted in
A) a decline in the price level. B) economic growth. C) an inflationary gap. D) a recessionary gap.
The two types of imperfectly competitive markets are
a. monopoly and monopolistic competition. b. monopoly and oligopoly. c. monopolistic competition and oligopoly. d. monopolistic competition and cartels.
The four components of GDP are consumption expenditures, private investment expenditures, government purchases, and transfer payments.
Answer the following statement true (T) or false (F)