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Briefly explain whether the following statements are true or false. If average total cost is above marginal cost, then marginal cost must be rising. If
Briefly explain whether the following statements are true or false.
"If average total cost is above marginal cost, then marginal cost must be rising."
"If marginal cost is above average total cost, then average total cost must be rising."
"A $0.50 per unit tax would shift up the marginal cost, average total cost, and average fixed cost curves by exactly $0.50."
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