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:

Writing Requirement

A legal stipulation that certain contracts or agreements must be documented in writing to be enforceable.

Implied Warranty

A legal assumption in commerce that the goods or services sold meet certain quality standards, even if not explicitly stated by the seller.

Assignment

The transfer of rights, property, or obligations from one party to another.

Consideration

Something of value exchanged between parties to form a binding contract.