Which of the Following Statements Is FALSE

question 113

Multiple Choice

Which of the following statements is FALSE?

• A) AC = TC/Q
• B) A firm that produces 100 units at a total cost of $500 has an average cost of $5 per unit.
• C) Firms will earn positive profits if price exceeds average cost.
• D) When marginal cost is below average cost, average cost is rising.

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Definitions:

Psychological Benefits

Refers to the positive effects on a person's mental health and well-being that result from certain activities, therapies, or situations.

Leader-Member Exchange Theory

A theory focusing on the two-way relationship (dyadic relationships) between leaders and followers, emphasizing the mutual benefits derived from high-quality exchanges.

Material Benefits

Tangible rewards or advantages gained from being a member of a social group or society.

Decision-Making Strategy

A methodological approach to choosing among different options or actions based on specific criteria, objectives, or principles.