34. If the average total cost curves are "U" shaped, then in the region of economies of scale which of the following is true: a. MC is always falling b. MC is negative c. MC is rising and then falling d. MC is below ATC

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Cost of Production

The entire idea of the cost of production or production cost is applied corresponding, or we can say that it is related to monetary cost. Money cost refers to any money expenditure which the firm or supplier, or producer undertakes in purchasing or hiring factor of production or factor services.