The marginal cost curve:
A. rises when the point of diminishing marginal productivity is reached.
B. declines until average total cost increases.
C. first rises and then declines.
D. rises when the average total cost curve lies above the average variable cost curve.
Answer: A
You might also like to view...
According to your textbook, markets tend to "clear" due to
A) the use of threat and coercion. B) the competitive bidding process. C) the intervention of expert economists. D) a well-managed national economic plan.
The benefit that Joan gets from eating cherries is an example of
A) when the external benefit equals the private benefit. B) a private benefit. C) an external benefit. D) an external cost. E) the marginal social cost of eating cherries.
The principle underlying the kinked-demand curve model of oligopoly is that the demand curve facing one firm is more elastic when other firms in the industry:
A. hold quantities constant when the firm changes its prices. B. match the firm's price changes. C. change prices in the opposite direction when the firm changes its prices. D. hold price constant when the firm changes its prices.
Human capital is equally, if not more, important than physical capital.
Answer the following statement true (T) or false (F)