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{"ops":[{"insert":"Hello, I have done these problems on my own to the best of my knowledge and just wanted to confirm my answers. If I got any wrong could you explain why it's wrong?\nQ1: If the total fixed cost curve shifts upward the firm's average fixed cost curve will also shift upward.\nTrue or False?\nAnswer: True\n\nQ2: In the short run time period, all inputs to the production process can be varied as long as the output remains constant.\nTrue or False?\nAnswer: True\n\nQ3: The marginal product curve does not exist in the long run time period.\nTrue or false?\nAnswer: False\n\nQ4: Average total cost is the total fixed cost minus total variable cost.\nTrue or False?\nAnswer: False\n\nQ5: While moving downward along the average total cost curve, as quantity of output is increasing, the marginal cost of production is always less than the average total cost of production.\nTrue or False?\nAnswer: False\n"}]}
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