estions tu1et10r.07.099OOQuestion 18 of 20Which of the following statements is true?a. When marginal cost is below average cost, average cost rises; when marginal cost is above average cost, average cost falls.b. The marginal product is the output per unit of a variable input.c. When marginal productivity of a variable input is falling then marginal costs of production must be rising.d. Average variable cost and average fixed cost are U-shaped curves.

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=tu1et10r.07.099 ● Question 18 of 20 Which of the following statements is true? O a. When marginal cost is below average cost, average cost rises; when marginal cost is above average cost, average cost falls. O b. The marginal product is the output per unit of a variable input. O c. When marginal productivity of a variable input is falling then marginal costs of production must be rising. O d. Average variable cost and average fixed cost are U-shaped curves.

=tu1et10r.07.099 ● Question 18 of 20 Which of the following statements is true? O a. When marginal cost is below average cost, average cost rises; when marginal cost is above average cost, average cost falls. O b. The marginal product is the output per unit of a variable input. O c. When marginal productivity of a variable input is falling then marginal costs of production must be rising. O d. Average variable cost and average fixed cost are U-shaped curves.

ECON MICRO

5th Edition

ISBN:9781337000536

Author:William A. McEachern

Publisher:William A. McEachern

Chapter7: Production And Cost In The Firm

Section: Chapter Questions

Problem 3.9P

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