Suppose That When Output Is 20, Marginal Cost Is $20

question 117

Multiple Choice

Suppose that when output is 20, marginal cost is $20, and average total cost is $30. Then which of the following is most likely to be true?

• A) Average total cost is declining.
• B) Average total cost is constant.
• C) Average total cost is rising.
• D) Average total cost is less than average fixed cost.

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IDEA

International Data Encryption Algorithm, a symmetric key block cipher used for secure data transmission.

ADA

The Americans with Disabilities Act, legislation in the United States aimed at preventing discrimination against people with disabilities.

HIPAA

The Health Insurance Portability and Accountability Act, a federal law in the United States that sets standards for the protection of sensitive patient health information.

GPS

GPS, or Global Positioning System, is a satellite-based navigation system that allows any user with a GPS receiver to determine their precise location (latitude, longitude, and altitude) anywhere on Earth.