Which one of the following statements below about cost functions of competitive firm is false? a) The average cost is decreasing at output level ą if marginal cost at q is smaller than the average cost at q. b) If marginal cost is an increasing in output q, the total cost function is convex. c) The marginal and average cost functions are both decreasing under an economies of technology. d) Average fixed cost function is a non-decreasing function of output.

Which one of the following statements below about cost functions of competitive firm is false? a) The average cost is decreasing at output level ą if marginal cost at q is smaller than the average cost at q. b) If marginal cost is an increasing in output q, the total cost function is convex. c) The marginal and average cost functions are both decreasing under an economies of technology. d) Average fixed cost function is a non-decreasing function of output.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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