When the Output Elasticity of Total Cost Is Less Than

question 82

Multiple Choice

When the output elasticity of total cost is less than one,

• A)Marginal cost is less than average cost and average cost decreases as Q increases.
• B)Marginal cost is less than average cost and average cost increases as Q increases.
• C)Marginal cost is greater than average cost and average cost decreases as Q increases.
• D)Marginal cost is greater than average cost and average cost increases as Q increases.

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