Question a when marginal cost is lower than average, Ask an Expert

Economics

Question: a. When marginal cost is lower than average variable cost, what is happening to average variable cost? When marginal cost is above average variable cost, what is happening to average variable cost? (Hint: look at the various cost curves.)

b. Why are the relationships you described in part a. true?

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M93137515

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