Questions Bank | Page 140015

When is average total cost increasing?

whenever marginal cost is increasing

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None of the above.

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whenever marginal cost is less than average total cost

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whenever total cost is increasing

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whenever marginal cost is greater than average total cost

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If the ATC curve is falling then the MC curve must be

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If marginal cost is rising, what must be happening?

Average variable cost must be falling.

❌

Marginal product must be falling.

✅

None of the above.

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Average fixed cost must be rising.

❌

Marginal product must be rising.

❌

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When a firm is able to put idle equipment to use by hiring another worker, what will result?

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In the long run, a firm has no factors of production that are

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