Question

The ATC curve for a firm that produces an information product

A) slopes downward, because AVC is constant, AFC slopes downward, and ATC = AVC + AFC.

B) slopes upward, because AFC is constant, AVC slopes upward, and ATC = AFC + AVC.

C) is U-shaped, because AVC is U -shaped, AFC slopes downward, and ATC = AVC + AFC.

D) slopes downward, because MC slopes downward, AVC is constant, and ATC = AVC + MC.

Answer

This answer is hidden. It contains 1 characters.