If the Average Total Cost Curve and the Average Variable

question 268

True/False

If the average total cost curve and the average variable cost curve are both U-shaped,and fixed costs are nonzero,then the minimum point of the average total cost curve must lie above the minimum point of the average variable cost curve.

---

Definitions:

Moral Dilemma

A situation in which a decision must be made between two or more actions, each of which has moral implications that may conflict.

Menarche

The first occurrence of menstruation in a female, marking the onset of reproductive capability.

Late Adulthood

A stage of human life typically marked by ages 65 and older, focusing on retirement, life reflection, and the facing of mortality.

Erik Erikson

A developmental psychologist known for his theory on the psychosocial development of human beings.