Question
3.32 Show that when average cost is declining, marginal cost must be less than average cost; when average cost is constant, marginal cost must
3.32 Show that when average cost is declining, marginal cost must be less than average cost; when average cost is constant, marginal cost must equal average cost; and when average cost is increasing, marginal cost must be greater than average cost.
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Microeconomics
Authors: Douglas Bernheim, Michael Whinston
2nd edition
73375853, 978-0073375854
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