Asked by
Rayna Fares
on Dec 19, 2024
Verified
For most producing firms,
A) marginal cost rises as output is carried to a certain level, and then begins to decline.
B) total costs rise as output is carried to a certain level, and then begin to decline.
C) average total costs decline as output is carried to a certain level, and then begin to rise.
D) average total costs rise as output is carried to a certain level, and then begin to decline.
Marginal Cost
The cost incurred by producing one additional unit of a product or service.
Output
The total amount of goods or services produced by an individual, company, or economy during a specific period.
- Understand the behavior of cost curves, including average and marginal cost relationships.
Verified Answer
GD
Learning Objectives
- Understand the behavior of cost curves, including average and marginal cost relationships.