Author Question: A linear total cost curve which passes through the origin implies that a. average cost is constant ... (Read 128 times)

Bob-Dole · **on:** Jul 1, 2018

A linear total cost curve which passes through the origin implies that
a. average cost is constant and marginal cost is variable.
b. average cost is variable and marginal cost is constant.
c. average and marginal costs are constant and equal.
d. need more information to answer question.

Question 2

A firm's marginal cost is defined as
a. the ratio of total cost to total output.
b. the ratio of total output to total cost.
c. the additional cost of producing one more unit of output.
d. the reciprocal of total average cost.