If the Marginal Cost Curve Is Rising,which of the Following

question 106

Multiple Choice

If the marginal cost curve is rising,which of the following must be true?

• A)The average total cost curve must be rising.
• B)The average total cost curve must be below the marginal cost curve.
• C)The average total cost curve must be above the marginal cost curve.
• D)Total costs must be rising.

Explain the impact of changes in the prices of substitute goods on the demand for a product.

Identify the outcomes of simultaneous shifts in both supply and demand curves on equilibrium price and quantity.

Understand the significance of equilibrium in achieving allocative efficiency in markets.

Understand the historical significance of slave rebellions, including the Amistad case and its Supreme Court decision.

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