If marginal cost is less than average total cost,

If marginal cost is less than average total cost,
 a. marginal cost must be falling
  b. average total cost must be increasing
  c. average variable cost equals average total cost
  d. average variable cost must be decreasing
  e. average variable cost may be increasing or decreasing

QUESTION 2

If marginal cost exceeds average variable cost,
 a. average variable cost is negative
  b. average variable cost is increasing
  c. marginal cost is greater than average total cost
  d. average variable cost is decreasing
  e. average fixed cost is increasing

QUESTION 3

Which of the following correctly describes the relationship between the marginal cost and average variable cost curves?
 a. MC is everywhere above AVC
  b. AVC is everywhere above MC
  c. MC crosses AVC at AVC's minimum point
  d. MC crosses AVC at MC's minimum point
  e. both AVC and MC first rise and then fall

QUESTION 4

If the average height in the classroom were 5 feet 10 inches and Patrick Ewing, who is 7 feet tall, came in and sat down,
 a. the average height would rise to 7 feet
  b. the marginal height would be 5 feet 10 inches
  c. the average height would not change
  d. the average height would rise somewhat
  e. the marginal height would rise

QUESTION 5

The marginal cost curve intersects the minimum point of the average variable cost curve.
 a. True
  b. False