A Total Cost Function of the Form TC = a

question 126

Multiple Choice

A total cost function of the form TC = a + bQ,with both a > 0 and b > 0,best describes a firm that has

• A) small fixed cost and increasing marginal cost.
• B) significant fixed cost and increasing marginal cost.
• C) small fixed cost and decreasing marginal cost.
• D) significant fixed cost and small,constant marginal cost.
• E) significant fixed cost and decreasing marginal cost.

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