average total cost is increasing as output increase, then marginal cost must be average total cost. elect one: O a. equal to b. less than O c. greater than O d. not enough information to make a decision. One important concept we learned this semester is the relationship between productivity and cost. We learned that average variable cost and the average product of labor have a relationship, ceteris paribus. Select one: a. fixed or constant b. all of the above c. inverse d. positive

average total cost is increasing as output increase, then marginal cost must be average total cost. elect one: O a. equal to b. less than O c. greater than O d. not enough information to make a decision. One important concept we learned this semester is the relationship between productivity and cost. We learned that average variable cost and the average product of labor have a relationship, ceteris paribus. Select one: a. fixed or constant b. all of the above c. inverse d. positive

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 3CQQ

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Similar questions

Average cost curves (except for avenge fixed cost) tend to be U-shaped, decreasing and then increasing. Marginal cost curves have the same shape, though this may be harder to see since most of the marginal cost curve is increasing. Why do you think that average and marginal cost curves have the same general shape?
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