If there are no fixed costs and the marginal costs are strictly increasing, then the average cost curve is always bellow the marginal cost curve. True/False Explain.
Added by Ayesha Z.
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If there are no fixed costs, then the total cost is simply the sum of all marginal costs up to a certain quantity of output. Second, if the marginal costs are strictly increasing, this means that each additional unit of output costs more to produce than the Show more…
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