Which of the following statements about marginal cost is incorrect?
A. A U-shaped marginal cost curve implies the existence of diminishing returns over all ranges of output.
B. When marginal cost equals averages cost, average cost is at tits minimum
C. In the short run, the shape of the marginal cost curve is due to the law of diminishing marginal returns.
D. When marginal cost is falling, total cost is rising
Answer:A
Which of the following statements about marginal cost is incorrect?
A. A U-shaped marginal cost curve implies the existence of diminishing returns over all ranges of output. B. When marginal cost equals averages cost, average cost is at tits minimum C. In the short run, the shape of the marginal cost curve is due to the law of diminishing marginal returns. D. When marginal cost is falling, total cost is rising