When Marginal Cost Is Less Than Average Total Cost ______

question 31

Multiple Choice

When marginal cost is less than average total cost ______ as output increases.

• A)Average total cost must be increasing
• B)Average variable cost must be decreasing
• C)Average fixed cost must be increasing
• D)Average total cost must be decreasing

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Definitions:

Ancestors

Individuals from whom one is descended, typically beyond the immediate family, reaching back through generations.

Mania

A mental state characterized by extremely elevated mood, energy, unusual thought patterns, and sometimes psychosis.

Delusional Schemes

Intricate beliefs or plans based on false judgments or interpretations, typically seen in psychiatric conditions.

Speak Rapidly

The act of talking quickly, which can be a symptom of nervousness, excitement, or conditions like mania.