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Economics

1-If marginal cost is below average total cost, average total cost will

-be maximized.

-decrease.

-increase.

-remain constant.

2-A firm's marginal cost curve above its AVC is also its short-run supply curve.

- True

- False

3- A firm ________ if it earns zero economic profit.

-earns a negative rate of return.

-will leave the industry.

-earns a positive but below normal rate of return.

-earns exactly a normal rate of return.

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M91231908

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