If Marginal Cost Is ______ Average Cost,then Average Cost Will

question 50

Multiple Choice

If marginal cost is ______ average cost,then average cost will _____.

• A) Equal to; decrease
• B) Less than; increase
• C) Greater than; decrease
• D) Greater than; increase

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Definitions:

Workers

Individuals engaged in any form of labor, whether employed by organizations, self-employed, or working as freelancers, contributing to the production of goods and services.

Producer Surplus

The difference between the amount a producer is paid for a good compared to the minimum amount they would be willing to accept for it, a measure of producer welfare.

Price

The sum of money needed to buy a product, service, or commodity.

Quantity

The amount or number of a material or immaterial good considered as a unit or in discrete amounts.