Statements about cost, Total cost is the sum of all

Statements about cost

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Reference no: EM13260780

Which of the following statements about cost is false?

a.) Total cost is the sum of all variable costs and fixed costs

b.) the marginal cost curve always intersects the lowest point of average variable cost curve

c.) Variable costs are the costs of producing the next unit of a good

d.) If marginal costs are higher than average total cost, the average total cost must be rising.

Reference no: EM13260780

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