Question: 23. Which statement is false? (LO4, 5) a) AFC plus AVC equals ATC. b) Marginal cost equals AVC at an output of one. c) AVC

23. Which statement is false? (LO4, 5) a) AFC plus AVC equals ATC. b) Marginal cost equals AVC at an output of one. c) AVC equals ATC at an output of one. d) None of the above. 24. As output rises, the difference between ATC and AVC (LO5) a) rises b) stays the same c) falls

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