QUESTION 3 If the Total Cost (TC) curve is an upward sloped concave curve (that is,...

  

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QUESTION 3 If the Total Cost (TC) curve is an upward sloped concave curve (that is, a flatter and flatter curve as Q rises), then the marginal cost (MC) as Q rises. is constant O increasing O decreasing QUESTION 4 In typical universities in the U.S., the long run marginal cost (MC) of student enrollment is initially low (and lower than the long run AC), leading to as the number of students increase. O increasing average cost (AC). O decreasing total cost (TC). O decreasing average cost (AC). O increasing fixed cost (FC). QUESTION 3 If the Total Cost (TC) curve is an upward sloped concave curve (that is, a flatter and flatter curve as Q rises), then the marginal cost (MC) as Q rises. is constant O increasing O decreasing QUESTION 4 In typical universities in the U.S., the long run marginal cost (MC) of student enrollment is initially low (and lower than the long run AC), leading to as the number of students increase. O increasing average cost (AC). O decreasing total cost (TC). O decreasing average cost (AC). O increasing fixed cost (FC).

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