When Marginal Cost Is Less Than Average Variable Cost,average Variable

question 233

Multiple Choice

When marginal cost is less than average variable cost,average variable cost is falling.
Statement II: As output rises,average fixed cost declines.

• A)Statement I is true and statement II is false.
• B)Statement II is true and statement I is false.
• C)Both statements are true.
• D)Both statements are false

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