Which of the following are TRUE statements and which are FALSE? Explain or demonstrate your answer.
a. If Total Fixed Costs > 0, then Average Fixed Costs always decrease as output increases.
b. Average Total Costs are always greater than or equal to Average Variable Costs.
c. If Marginal Costs are increasing, Average Cost must also be increasing.
d. If Long Run Average Costs are increasing as output increases, then Short Run Average Total Costs must also be increasing