When a Firm's Average Total Cost Curve Is Downward-Sloping

question 109

Multiple Choice

When a firm's average total cost curve is downward-sloping,

• A)one firm can charge a higher price than multiple firms.
• B)one firm can always produce more cheaply than multiple firms.
• C)multiple firms in a market can charge a lower price than one firm.
• D)a larger number of firms in a market is better than a smaller number of firms.
• E)multiple firms can produce more cheaply than one firm.

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Definitions:

Relative Cell Reference

In spreadsheet programs, a cell address expression that changes when it is copied to another location, relative to the position of the target cell.

Exact Cell Address

The specific location of a cell in a spreadsheet, identified by the combination of its column letter and row number.

Absolute Cell Reference

In spreadsheet applications, an absolute cell reference is a cell address that does not change when copied or moved to another cell location.

AutoFill Options Button

An interface button that, when activated, provides options to automatically complete filling data in fields based on patterns, preferences, or previously entered information.