If the law of diminishing marginal productivity holds true, eventually both the marginal cost curve and the average cost curve must become:
A. downward sloping.
B. horizontal lines.
C. upward sloping.
D. vertical lines.
Answer: C
You might also like to view...
A characteristic of the long run is
A) all inputs can be varied. B) there are fixed inputs. C) there are both fixed and variable inputs D) plant capacity cannot be increased or decreased.
The higher the cost of talking on a cell phone in public (in terms of being perceived by others as rude) the less likely one is to do so
Indicate whether the statement is true or false
Which of the following statements are true?
A. In the long run the monopolistic competitor is as efficient as the perfect competitor. B. The demand curve of a monopolistic competitor is more horizontal (flatter) than a monopolist's demand curve. C. In the long run the monopolistic competitor will definitely make a profit. D. The demand curve of a monopolistic competitor is identical to its marginal revenue curve.
A. lowering average total cost. B. increasing marginal utility. C. enhancing monopoly power. D. giving society a more-preferred mix of goods and services
A. lowering average total cost. B. increasing marginal utility. C. enhancing monopoly power. D. giving society a more-preferred mix of goods and services.