When marginal costs are below average total costs,O Average total costs are fallingO Average total costs are risingO Average total costs are minimizedO Average fixed costs are rising

Average total cost is alluded to as the aggregate of all creation costs partitioned by the total…

Answered: Average total costs are falling Average…

Average total costs are falling Average total costs are rising Average total costs are minimized O Average fixed costs are rising

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter12: The Cost Of Production

Section: Chapter Questions

Problem 5CQQ

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When marginal costs are below average total costs,
O Average total costs are falling
O Average total costs are rising
O Average total costs are minimized
O Average fixed costs are rising

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