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    Predicting Demand

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    Question 1
    Use the terms "rising", "falling", or "staying the same" (but without the quotation marks) when filling in the following blanks.

    When the average total cost curve is "U" shaped, the average total cost curve is ________if the marginal cost curve is below it and __________ if the marginal cost curve is above it. When average variable cost is minimized, marginal cost is ______ and when average total cost is minimized, marginal cost is __________ .

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    Solution Preview

    When the average total cost curve is "U" shaped, the average total cost curve is falling if the marginal cost ...

    Solution Summary

    Predicting Demand for rising and falling are determined.

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