Which one of the following statements is correct?
A. When the marginal cost is rising, the average cost must also be rising.
B. When the average cost is rising, the marginal cost must be falling.
C. When the average cost is rising, the marginal cost is above average cost.
D. When the average cost is falling, the marginal cost must be rising.
Answer:C
Which one of the following statements is correct?
A. When the marginal cost is rising, the average cost must also be rising. B. When the average cost is rising, the marginal cost must be falling. C. When the average cost is rising, the marginal cost is above average cost. D. When the average cost is falling, the marginal cost must be rising.