When Marginal Costs Are Below Average Total Costs

question 38

Multiple Choice

When marginal costs are below average total costs,

• A) average fixed costs are rising.
• B) average total costs are falling.
• C) average total costs are rising.
• D) average total costs are minimised.

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Definitions:

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Obvious, unmistakable distinctions or contrasts between entities or situations.

Personal Power

An individual's ability to influence others based on their personal attributes or qualities, rather than formal authority or position.

Referent

In leadership and social influence contexts, referent power is an individual's ability to influence others based on the strength of their relationship and personal traits that others admire or desire.

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