When marginal costs are below average total costs ?

Related Mcqs:

If there are implicit costs of production ?

A. accounting profit will exceed economic profit B. economic profit will always be zero C. economic profit will exceed accounting profit D. accounting profit will always be zero E. economic profit and accounting profit will be equal...

If a production function exhibits diminishing marginal product the slope of the corresponding total-cost curve ?

A. is liner (a straight line) B. could be any of these answers C. becomes steeper as the quantity of output increases D. become flatter as the quantity of output increases....

If marginal costs equal average total costs ?

A. average total cost is falling B. average total cost is raising C. average total cost is maximized D. average total cost is minimized...

In the long run, if a very small factory were to expand its scale of operations it is likely that it would initially experience ?

A. an increase in average total costs B. diseconomies of scale C. economies of scale D. constant returns to scale...

Economic profit is equal to total revenue minus ?

A. variable costs B. implicit costs C. explicit costs D. marginal costs...