Marginal Cost _____ Over the Range of Increasing Marginal Returns

question 234

Multiple Choice

Marginal cost _____ over the range of increasing marginal returns and _____ over the range of diminishing marginal returns.

• A)increases;decreases
• B)decreases;increases
• C)is constant;decreases
• D)increases;is constant

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Definitions:

Biomass Energy

Energy produced by burning organic materials, such as wood, agricultural crops, or animal waste.

Developing Countries

Nations with a lower level of industrialization, lower living standards, and lower Human Development Index (HDI) compared to developed countries.

OPEC

The Organization of the Petroleum Exporting Countries, an intergovernmental organization coordinating the petroleum policies of its member countries.

Global Supplies

The total availability of goods, commodities, or resources considered at a global scale, affecting markets, economies, and international trade.