Which of the Following Statements Is Correct

question 255

Multiple Choice

Which of the following statements is correct?

• A)For most producers, the average total cost curve never crosses the marginal cost curve.
• B)The average fixed cost curve must eventually rise.
• C)The average total cost curve first rises, then falls with increased output.
• D)The marginal cost curve eventually rises with the quantity of output.

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Definitions:

International Trade

The exchange of goods and services across international boundaries or territories, involving the import and export of products.

Opportunity Cost

The worth of the best alternative that is given up in order to make a choice.

Imports

Products or services imported from other countries for sale or consumption.

Purchasing Power

The value of currency expressed in terms of the amount of goods or services that one unit of money can buy.