The Cost Function C(y)= 100 + 3y2 Has Marginal Cost

question 4

True/False

The cost function C(y)= 100 + 3y2 has marginal cost less than average cost for all positive levels of output.

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Definitions:

Prison Population

The total number of individuals incarcerated in a prison system at a given time.

Decreasing Rate

A situation where the rate at which a value or quantity is reduced increases over time.

Canada Savings Bond

A secure investment product offered by the Government of Canada that provides a guaranteed interest rate over a fixed period.

Maturity Value

The total amount payable to an investor at the end of a fixed-term investment, including the principal and the interest.