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15 Feb 2018

Use the figure below to answer the following questions. Cost (dollars A 0 5 10 15 20 Output teapots per day Figure 11.3.2 19) Refer to Figure 11.3.2, which illustrates short-run average and marginal cost curves. Which one of the following statements is false? A) Average fixed cost decreases with output B) The vertical gap between curves B and C is equal to average variable cost. C) The vertical gap between curves B and C is equal to average fixed cost. D) Line B comes closer to line C as output increases because of a decrease in average fixed cost. E) Curve D is the marginal cost curve.

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Patrina Schowalter
Patrina SchowalterLv2
16 Feb 2018
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