If the marginal cost is falling, what must be true about average variable cost and average total cost?An illustration with an explanation will easily illustrate your point

Describe why the long-run supply curve in an industry may be upward sloping?An illustration with an explanation will easily illustrate your point.Give an example of such an enterprise.

Always give a suitable example to illustrate your point in a LE.

Then write comments on the choice of your classmates if they chose a different answer.

PROFESSOR'S GUIDANCE FOR THIS WEEK'S LE:

Is there such a thing as perfect competition? Provide an example with references to illustrate your answer.

If so,what happens to the different costs? Is this beneficial to the organization? Why or why not? Make sure you give an example and provide adequate references to strengthen your argument

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Be sure to proofread carefully (Use Grammarly - the premium version! Make sure your writing score is more than 90) and cite your sources (APA 7.0 ed).