If Average Cost Is Positive

question 28

Multiple Choice

If average cost is positive,

• A) marginal cost equals average cost.
• B) marginal cost exceeds average cost.
• C) marginal cost is less average cost.
• D) Not enough information is given.

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Definitions:

Leather Jackets

Durable and stylish outerwear pieces made from the hides of animals, typically dyed and treated to achieve a smooth finish.

Utility Function

A mathematical representation of a consumer's preference ordering over a set of goods and services.

Leather Jackets

Garments made from the skin of animals, primarily cows, processed and designed for wear primarily as outerwear.

Utility Function

A mathematical representation of a consumer's preference ranking for bundles of goods or services, used to predict economic behavior.