The Average Total Cost Curve of a Firm Is U

question 60

True/False

The average total cost curve of a firm is U shaped but the average variable cost is not.

---

Definitions:

Basketballs

Inflated balls used in the game of basketball, designed according to specific regulations in terms of size and weight.

MC

The additional cost of producing one more unit of a product or service.

TVC

Total Variable Cost, which refers to the total of all costs that vary with output level in the short term.

Formula

A mathematical relationship or rule expressed in symbols, often used to calculate and predict outcomes.