As Output Is Expanded, If Marginal Cost (MC) Is Less

question 159

Multiple Choice

As output is expanded, if marginal cost (MC) is less than average total cost (ATC) ,

• A) ATC must be at its minimum.
• B) ATC must be at its maximum.
• C) ATC must be decreasing.
• D) the firm must be earning economic profit.

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Definitions:

Explicit Memory

A type of long-term memory that involves conscious recollection of factual information, experiences, and concepts.

Implicit Memory

A form of memory where past encounters assist in accomplishing a task without the individual being consciously aware of these prior encounters.

Autobiographical Memories

Personal memories of individuals that encompass events, experiences, and emotions across one's lifespan.

Brain Regions

Specific areas of the brain specialized for distinct functions, such as the frontal lobes or hippocampus.