If marginal cost is less than average total cost, a. average variable cost must be decreasing. b. marginal cost must be decreasing.O c. average total cost is decreasing. d. average total cost is increasing.
If marginal cost is less than average total cost, a. average variable cost must be decreasing. b. marginal cost must be decreasing.O c. average total cost is decreasing. d. average total cost is increasing.
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 4CQQ
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![If marginal cost is less than average total cost, a. average variable cost must be decreasing.
b. marginal cost must be decreasing.O c. average total cost is decreasing. d. average total
cost is increasing.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F82041d7a-0498-4a55-8abf-b7807e442bf9%2Ffff80c1e-7d7e-42d7-b596-b3e828c23649%2Fkpak9ytb_processed.jpeg&w=3840&q=75)
Transcribed Image Text:If marginal cost is less than average total cost, a. average variable cost must be decreasing.
b. marginal cost must be decreasing.O c. average total cost is decreasing. d. average total
cost is increasing.
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