If a Firm's Average Total Cost Is at Its Minimum

question 132

Multiple Choice

If a firm's average total cost is at its minimum possible value, its marginal cost is

• A)constant.
• B)equal to its average total cost.
• C)decreasing.
• D)not U-shaped.

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Definitions:

Area

In geometry, the measurement of the extent of a two-dimensional surface or shape, expressed in square units.

P(Z < 3.00)

A statistical expression indicating the probability of a standard normal variable being less than 3.00.

P(Z > 1.9)

The probability that a standard normal random variable Z exceeds the value of 1.9, commonly used in statistical analysis to find tail probabilities.

Mean

The average of a set of numbers, calculated by dividing the sum of the values by their count.