Question

Are the following statements true or false? Give reasons.
a) Average variable cost can fall even when marginal cost is rising.
b) As output is increased, the difference between average total cost & average variable cost
decreases & ultimately becomes zero.
c) Total cost can never be constant.
d) Imputed salary of owner is explicit cost.​

Answer 1

Answer:

a. true

b. false

c. true

d. false

Explanation:

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