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State whether the following statements are true or false. Rewrite the statement if they are false:

(a) TFC is zero at zero level of output. 

(b) AC is minimum at the point where AC = MC. 

(c) AVC curve is a rectangular hyperbola. 

(d) TFC curve is‘U’shaped.

1 Answer

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Best answer

(a) False.

TFC is positive even when the level of output is zero. 

(b) True 

(c) False. 

AVC curve is‘U’ shaped. 

(d) False. 

TFC is horizontal straight line.

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