ATC is decreasing, is ATC is above (greater), equal, or less (below) than MC? ________ choose one ATC is minimum, is ATC is above, equal or less than MC? __________ choose one ATC is increasing, is ATC is above, equal, or less than MC?
ATC is decreasing, is ATC is above (greater), equal, or less (below) than MC? ________ choose one ATC is minimum, is ATC is above, equal or less than MC? __________ choose one ATC is increasing, is ATC is above, equal, or less than MC?
Chapter6: Proudction Costs
Section: Chapter Questions
Problem 9SQP
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Question
- State the relationship between (ATC)
average total cost , and marginal cost (MC) when
- ATC is decreasing, is ATC is above (greater), equal, or less (below) than MC? ________ choose one
- ATC is minimum, is ATC is above, equal or less than MC? __________ choose one
- ATC is increasing, is ATC is above, equal, or less than MC? _________ choose one
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