If a Firm's Average Variable Cost Curve Is Rising, Its

question 128

True/False

If a firm's average variable cost curve is rising, its marginal cost must exceed its average variable cost.

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Definitions:

Iris Diaphragm

A thin, adjustable circular structure in optical devices or the eye that controls the amount of light passing through by changing its size.

Condenser

A device used to condense a gas or vapor into a liquid.

Ocular Lens

The lens closest to the eye in a microscope or telescope, through which the viewer looks to magnify the image formed by the objective lens.

Objective Lens

The part of a microscope or telescope that is closest to the object being observed, focusing light and creating an initial image.