Author Question: In a short-run production process, the marginal cost is rising and the average total cost is falling ... (Read 62 times)

Yolanda · **on:** Jul 1, 2018

In a short-run production process, the marginal cost is rising and the average total cost is falling as output is increased. Thus, marginal cost is

A) below average total cost.
B) above average total cost.
C) between the average variable and average total cost curves.
D) below average fixed cost.

Question 2

A person with a diminishing marginal utility of income

A) will be risk averse.
B) will be risk neutral.
C) will be risk loving.
D) cannot decide without more information