True or false? a. The AFC curve can never rise. b. Diminishing marginal product is a long-run constraint that prevents lower costs. c. The MC curve intersects the AVC and ATC curves at the minimum point along both curves.

True or false? a. The AFC curve can never rise. b. Diminishing marginal product is a long-run constraint that prevents lower costs. c. The MC curve intersects the AVC and ATC curves at the minimum point along both curves.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter7: Production, Costs, And Industry Structure

Section: Chapter Questions

Problem 23RQ: Which costs are measured on per-unit basis: fixed costs, average cost, avenge variable cost,...

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Question

hey can i have help with this?

True or false?
a. The AFC curve can never rise.
b. Diminishing marginal product is a long-run
constraint that prevents lower costs.
c. The MC curve intersects the AVC and ATC
curves at the minimum point along both
curves.
d. Accounting profit is smaller than economic
profit.
e. Total cost divided by output is equal to
marginal cost.

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