Which of the following statements is (are) correct? (x) If marginal cost is less than average total cost but more than average variable then average total cost is falling and average variable cost is rising. (y) If marginal cost is above average variable cost, average variable cost may rise fall depending on the size of average fixed costs. (2) If marginal cost is above average fixed cost, average fixed cost may rise or fal depending on the size of fixed costs. Select one: O A. (x), (y), and (z) O B. (x) and (y), only O C. (x) and (z), only O D. (y) and (z), only O E. (x) only
Which of the following statements is (are) correct? (x) If marginal cost is less than average total cost but more than average variable then average total cost is falling and average variable cost is rising. (y) If marginal cost is above average variable cost, average variable cost may rise fall depending on the size of average fixed costs. (2) If marginal cost is above average fixed cost, average fixed cost may rise or fal depending on the size of fixed costs. Select one: O A. (x), (y), and (z) O B. (x) and (y), only O C. (x) and (z), only O D. (y) and (z), only O E. (x) only
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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