MICROECONOMICS
MICROECONOMICS
11th Edition
ISBN: 9781266686764
Author: Colander
Publisher: MCG
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Chapter 11, Problem 2IP
To determine

Evaluate the given statement.

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If the marginal cost of production is greater than the average variable cost, what does this tell you about the nature of the average variable cost
you increase the production to infinitely higher level , the average variable cost and average total cost will merge.
Is total cost 0 when the level of production is 0?
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