Which two of the following statements are correct?
a) In the short - run, Δ TFC = 0, therefore Δ TC = Δ TVC
b) If decrease in AFC < increase in AVC, then AC decreases
c) If decrease in AFC = increase in AVC, AC remains constant
d) If decreases in AFC > increase in AVC, then AC increases
Choose the correct answer from the options given below
1
a) and c)
2
b) and c)
3
b) and d)
4
a) and d)