Which of the Following Statements Are True? When Marginal Cost

question 83

Multiple Choice

Which of the following statements are true? When marginal cost exceeds average total cost:
(i) average total cost must be rising
(ii) average variable cost must be rising
(iii) average fixed cost must be rising

• A)(i) only
• B)(i) and (ii)
• C)(ii) and (iii)
• D)(i), (ii) and (iii)

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Definitions:

Intestacy Laws

Regulations governing the distribution of a deceased person's estate when they die without a will.

Divorce

The legal dissolution of a marriage by a court or other competent body.

Distribution

The process of making a product or service available for use or consumption by a consumer or business user.

Trust

An arrangement in which title to property is held by one person (a trustee) for the benefit of another (a beneficiary).