If average cost is incresing as output expands, a marginal cost equals average cost b marginal cost exceeds average cost c marginal cost is less than average cost d not enough information
If average cost is incresing as output expands, a marginal cost equals average cost b marginal cost exceeds average cost c marginal cost is less than average cost d not enough information
Managerial Economics: A Problem Solving Approach
5th Edition
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Chapter7: Economies Of Scale And Scope
Section: Chapter Questions
Problem 11MC
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If average cost is incresing as output expands,
a marginal cost equals average cost
b marginal cost exceeds average cost
c marginal cost is less than average cost
d not enough information
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