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Which of the following statements is false?



When the marginal product of labor is upward-sloping, the marginal cost curve (MC) is upward-sloping.


The average fixed cost (AFC) curve is downward-sloping and approaches the horizontal axis.


The marginal cost (MC) curve intersects the average variable cost (AVC) curve at the minimum of average variable cost.


When the marginal cost (MC) curve is above the average cost (AC) curve, the AC is upward-sloping.

Respuesta :

Parrain

The statement that is false is When the marginal product of labor is upward-sloping, the marginal cost curve (MC) is upward-sloping.

What is the relationship between marginal product and cost?

The two measures have an inverse relationship. This means that when one is increasing, the other is increasing.

When marginal product of labor is increasing, the marginal cost curve decreases so this statement is false.

Find out more on marginal product of labor at https://brainly.com/question/13380400

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