Which of the Following Statements Is (Are) TRUE

question 30

Multiple Choice

Which of the following statements is (are) TRUE?
I. If marginal cost is rising, the average total cost must be rising.
II. The marginal cost curve intersects both the average total and average variable cost curves at their minimum points.
III. If marginal cost is less than average variable cost, the average variable cost curve is negatively sloped.

• A) I, II, and III
• B) I and III
• C) II
• D) II and III

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Definitions:

Fundamental Ecosystems

Basic ecological units comprised of living organisms and their physical environment, interacting as a system.

Planetary Management

Planetary management is a worldview that regards the Earth as a system to be managed for the benefit of humans, focusing on the manipulation of natural systems to meet human needs.

Economic Growth

The increase in the market value of the goods and services produced by an economy over time, often measured as the percent rate of increase in the real gross domestic product (GDP).

Technological-Economic Growth

The increase in economic output (growth) driven by technological innovations and advancements, leading to improved efficiencies and productivity.