If Marginal Cost Is GREATER Than Average Total Cost,then Average

question 248

Multiple Choice

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

• A)at its maximum.
• B)at its minimum.
• C)rising.
• D)falling.

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Definitions:

Substitution

The act of replacing one element or factor with another, often in economic, mathematical, or chemical contexts.

Coping With Uncertainty

Refers to strategies and mechanisms individuals or organizations employ to manage and mitigate the stress or challenges brought about by uncertain situations or environments.

Visibility

The degree to which an individual's actions, contributions, or status within an organization are recognized and noticed by others.

Discretion

The freedom to decide what should be done in a particular situation, often within the framework of one’s role or authority.