Which of the following best describes the relationship between the average total cost curve and the marginal
Question:
Which of the following best describes the relationship between the average total cost curve and the marginal cost curve in the short run?
If the average total cost curve is rising, the marginal cost curve is above the average total cost curve. | |
If the average total cost curve is rising, the marginal cost curve is below the average total cost curve. | |
If the average total cost curve is above the marginal cost curve, the marginal cost curve is rising. | |
If the average total cost curve is below the marginal cost curve, the marginal cost curve is falling. | |
If the average and marginal cost curves intersect, the marginal cost curve is at a minimum |
Horngrens Accounting
ISBN: 978-0133855388
10th Canadian edition Volume 2
Authors: Tracie L. Miller-Nobles, Brenda L. Mattison, Ella Mae Matsumura, Carol A. Meissner, Jo-Ann L. Johnston, Peter R. Norwood