QUIZ7 - 1 The average fixed costs never increase with...

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Econ 301: Intermediate Microeconomic Theory NAME: Korinna K. Hansen Quiz 7 You can use the back of this page as scrap. We will not look at the back when grading this quiz, so you should present your complete answer by the question. Use a graph and briefly explain if the following statements are true or false:
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Unformatted text preview: 1). The average fixed costs never increase with output. 2). The average total costs are always greater than or equal to the average variable costs. 3). Average cost can never rise while marginal costs are declining....
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