Examlex

Solved

In the Short Run,if Marginal Cost Is Higher Than Average

question 311

True/False

In the short run,if marginal cost is higher than average total cost,producing an extra unit of output must raise average total cost.


Definitions:

Technical Requirements

Detailed specifications to which a product, service, or system must adhere.

Negotiable Instrument

A document in writing that promises to pay a specified sum of money, either upon request or at an agreed-upon date, with the document specifying the individual responsible for payment.

Enforceable Contract

A legal agreement that is valid and can be upheld in court.

Negotiable Instruments

Financial instruments that are transferable from one party to another, typically including checks, promissory notes, and bills of exchange.

Related Questions