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Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383

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BuyFindarrow_forward

Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383
Textbook Problem

If the ATC curve is continually declining, what does this imply about the MC curve? Explain your answer.

To determine

Impact on marginal cost if the average total cost continuously declines.

Explanation

For continuous decline in the average total cost (ATC), the marginal cost must be less than the average total cost (ATC)...

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