As Output Is Expanded, If MC Is More Than ATC

question 3

Multiple Choice

As output is expanded, if MC is more than ATC ,

• A) ATC must be at its minimum.
• B) ATC must be at its maximum.
• C) ATC must be increasing.
• D) ATC must be constant.

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Definitions:

Good Faith

A legal principle that emphasizes honesty, fairness, and integrity in the fulfillment of contractual and legal obligations.

Sale of Goods

A transaction involving the transfer of ownership of tangible personal property from a seller to a buyer for a price.

Tangible Personal Property

Physical items that can be owned and have value, such as furniture, jewelry, and vehicles.

Consideration

Something of value exchanged between parties in a contract that induces them to enter into the agreement.