If the Marginal Cost Curve Is Below the Average Variable

question 135

Short Answer

If the marginal cost curve is below the average variable cost curve,average variable cost must be ____________.

---

Definitions:

Income Level

A measurement of the amount of money received on a regular basis, typically used for assessing socioeconomic status.

Negative Correlation

A relationship between two variables in which one variable increases as the other decreases, and vice versa.

Inverse Relationship

A relationship between two variables wherein one variable increases as the other decreases, and vice versa.

Economic Status

The social standing or class of an individual or group often measured by income, wealth, education, and occupation.