When average cost is declining
A. Marginal cost must be declining.
B. Marginal cost must be above average cost.
C. Marginal cost must be below average cost.
D. Marginal cost must be rising.
Answer:C
When average cost is declining
A. Marginal cost must be declining. B. Marginal cost must be above average cost. C. Marginal cost must be below average cost. D. Marginal cost must be rising.