Question

what does fall, rise , constant in average cost implies​

Answer 1

The average variable cost (AVC) curve will at first slope down from left to right, then reach a minimum point, and rise again. ... Increasing returns to the variable factors, which cause average costs to fall, followed by: Constant returns, followed by: Diminishing returns, which cause costs to rise.

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Answer 2

Answer:

Relationship to marginal cost

When average cost is declining as output increases, marginal cost is less than average cost. When average cost is rising, marginal cost is greater than average cost. When average cost is neither rising nor falling (at a minimum or maximum), marginal cost equals average cost.