When Marginal Cost Is Above Average Variable Cost, Average Variable

question 144

Multiple Choice

When marginal cost is above average variable cost, average variable cost must be:

• A) at its minimum.
• B) at its maximum.
• C) falling.
• D) rising.

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Definitions:

Physical Needs

Basic requirements for human survival, such as food, water, shelter, and sleep.

Hyperphagic

Characterized by excessive eating.

Aphagic

Characterized by undereating.

Esteem Needs

According to Maslow's hierarchy of needs, these are the fourth level and involve the desire for respect, self-esteem, and recognition from peers.