Whenever Average Cost Exceeds Marginal Cost

question 12

Multiple Choice

Whenever average cost exceeds marginal cost,

• A)average cost is rising.
• B)average cost is falling.
• C)marginal cost is rising.
• D)marginal cost is falling.

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Definitions:

Personal Benefit

An advantage or profit gained from a situation or action that directly affects an individual on a personal level.

Trumpet

A brass wind instrument with a flared bell and bright, penetrating tone, often used in classical and jazz music.

Writing

The act, process, or practice of recording thoughts, ideas, or information by inscribing symbols or characters on a surface.

Absence

The state of being away from a place or person, or the neglect to perform a duty or requirement.