Figure 7-11 -Figure 7-11 Shows an Average Cost Curve with Points on with Points

question 124

Multiple Choice

Figure 7-11
-Figure 7-11 shows an average cost curve with points on it that correspond to three quantity levels.Which of the following statements must be wrong?

• A)The firm's technology may show increasing marginal returns as production increases from A to B.
• B)The firm may have positive fixed costs.
• C)As production expands from A to B to C, the firm may become increasingly difficult to manage efficiently.
• D)The firm's average fixed cost may rise as production increases from B to C.

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Definitions:

Mandatory Schooling Requirements

Legal regulations that establish the minimum amount of education that children must receive, typically specifying both the starting age and the minimum number of years.

Cut-Off Date

A specified deadline or date by which something must be submitted or completed.

Cognitive Abilities

Mental skills that include the capacity to learn, remember, solve problems, and make decisions.

Traditional Instructional Strategies

Conventional methods of teaching that often include lectures, reading assignments, and written exams.