Determine if the statements and expressions regarding costs are true or false.
a. All costs are either fixed or variable.
b. Average fixed cost is always higher than average variable cost.
c. The average fixed cost curve is downward-sloping.
d. In the short run, ATC is always greater than or equal to AVC.
e. The ATC curve crosses the MC curve at the lowest point on the MC curve.
f. ATC = (FC+VC)/Q
g. The ATC is increasing whenever the MC is increasing.
h. Marginal cost refers to the change in total cost associated with the production of another unit.
i. The VC curve is modeled as a horizontal line.
j. TC = FC + VC + MC