Refer to the Accompanying Figure

question 147

Multiple Choice

Refer to the accompanying figure. At quantities less than 50 doughnuts per day:

• A)marginal cost is declining.
• B)the return to the firm's variable factors of production must be increasing.
• C)average cost is declining because marginal cost is increasing.
• D)average cost is declining because marginal cost is less than average cost.

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