5) The following statement about MC and AC is correct a) "When MC is falling , AC is falling " b) AC equals MC at MCs lowest point c) "When MC exceeds AC, AC must be rising " d) "When AC exceeds MC, MC must be rising
Subject: Menagerial economics & policy
MCQ's
5) The following statement about MC and AC is correct
a) "When MC is falling , AC is falling "
b) AC equals MC at MCs lowest point
c) "When MC exceeds AC, AC must be rising "
d) "When AC exceeds MC, MC must be rising "
6) Which market has the large number of firms
a)
b) oligoply
c)
d)
7) If the technology for producing a good enables one firm to meet the entire market demand
at a lower price than the firm has
a) decreased supply
b) decreased market demand
c) increased total cost
d) a natural monopoly
Step by step
Solved in 2 steps
