If AFC is falling then MC must be a. increasing. b. decreasing. c. above the AVC

Question

If AFC is falling then MC must be



a. increasing.

b. decreasing.

c. above the AVC.

d. none of the above.

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8.

(Points: 1) The vertical distance between the TC and TVC curves is equal to



a. TFC.

b. AFC.

c. MC.

d. AVC.

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9.

(Points: 1) Economies of scale are present when



a. the LRAC curve slopes downward.

b. marginal cost increases.

c. the LRAC curve is horizontal.

d. total cost remains constant as input increases. If AFC is falling then MC must be The vertical distance between the TC and TVC curves is equal to Economies of scale are present when the LRAC curve slopes downward. marginal cost increases. the LRAC curve is horizontal. total cost remains constant as input increases.

Explanation / Answer

b.decreasing.

c. MC.

c. the LRAC curve is horizontal.

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