Which of the Following Is Correct

question 60

Multiple Choice

Which of the following is correct?

• A)There is no relationship between MP and MC.
• B)When AP is rising, MC is falling, and when AP is falling, MC is rising.
• C)When MP is rising, MC is rising, and when MP is falling, MC is falling.
• D)When MP is rising, MC is falling, and when MP is falling, MC is rising.

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Definitions:

Economic Profit

The gap between a company's total earnings and its combined explicit and implicit expenses.

Total Output

The total quantity of goods or services produced by an economy, firm, or production process within a given period.

Total Revenue

The complete amount of money received by a company or organization from its business activities, such as sales of goods or services, before any expenses are subtracted.

Total Cost

The complete cost of production, including both fixed and variable costs.