jackfooman5146 jackfooman5146

22-03-2024
Business

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Consider a firm with fixed costs of production. Which of the following statements about its average cost (AC) and marginal cost (MC) is correct?
a) When AC > MC, the MC curve is downward sloping.
b) When AC < MC, the MC curve is downward sloping.
c) There is no question provided.
d) There is no relationship between AC and MC.

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