If Marginal Cost Is Less Than Average Total Cost, Then

question 50

Multiple Choice

If marginal cost is less than average total cost, then:

• A) average total cost is increasing.
• B) average total cost is decreasing.
• C) marginal cost is necessarily increasing.
• D) marginal cost is necessarily decreasing.

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Definitions:

Reduce Risks

Strategies or actions taken to lower the probability of loss or the impact of adverse outcomes.

Product Development

Product development is the process of bringing a new product to market, including the conception, design, and manufacture of products that meet consumer needs and preferences.

Market Penetration

A measure of the amount of sales or adoption of a product or service compared to the total theoretical market for that product or service.

More Resources

Refers to an increase in the availability of materials, finances, or other assets that are necessary for achieving objectives or completing tasks.