Question

(1) With a given plant size, an increase in output will NOT result in an increase in,
a. average variable cost
b.total cost
c.total fixed cost
d.average fixed costs

(2) The change in total variable cost which accompanies one extra unit of output
a.marginal cost
b.the average variable cost
c.the average total cost
d.the average fixed cost

(3) When the total product is rising,
a. variable cost must be declining
b. the marginal cost must be positive
c. the marginal product must be negative.

 d. fixed cost must be rising

(4) For a perfectly competitive firm,
a. price is less than marginal revenue
b.there is no relationship between price and marginal revenue
c. price is greater than marginal revenue
d.price equals marginal revenue