If an Increase in Output Results in a Decrease in Average

question 104

Multiple Choice

If an increase in output results in a decrease in average total cost, the corresponding marginal cost is:

• A) less than average total cost.
• B) greater than average total cost.
• C) equal to average total cost.
• D) negative.

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Definitions:

Meritocracy

A system where success and status in society are determined by individual talent, effort, and achievement, rather than by wealth or social class.

Affirmative Action

Policies or measures designed to increase the representation of minorities and women in areas of employment, education, and business from which they have historically been excluded.

Ethnic Enclaves

Geographic areas with high concentrations of individuals from the same ethnic or cultural background, distinct from the larger surrounding area.

Upward Mobility

The ability or opportunity for individuals or groups to improve their economic status or social class, often through education or employment.