[Answered] The marginal cost curve intersects the average fixed, average variable, and average total cost ...

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folubunmi

Hero Member
Posts: 524

on: Jun 29, 2018

The marginal cost curve intersects the average fixed, average variable, and average total cost curves all at their minimum points.

Indicate whether the statement is true or false

Question 2

If the income effect is larger than the substitution effect, then a wage hike will be accompanied by an increase in the quantity of labor supplied.

Indicate whether the statement is true or false

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Marked as best answer by a Subject Expert

abro1885

Sr. Member
Posts: 337

Reply #1 on: Jun 29, 2018

Answer to Question 1

FALSE

Answer to Question 2

FALSE

folubunmi

Hero Member
Posts: 524

Reply #2 on: Jun 29, 2018

Correct answers!

abro1885

Sr. Member
Posts: 337

Reply #3 on: Jun 29, 2018

Great! Please up vote

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