Marginal Cost

question 38

Multiple Choice

Marginal cost

• A)is constantly increasing,but as output increases it increases by smaller and smaller amounts.
• B)decreases at low outputs until it reaches its minimum value,then remains constant.
• C)decreases at low outputs and increases at high outputs.
• D)increases at low outputs until it reaches its maximum value,then remains constant.
• E)is constantly decreasing,but as output increases it decreases by smaller and smaller amounts.

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Definitions:

Congress

The bicameral legislature of the Federal Government of the United States, consisting of the House of Representatives and the Senate.

Lost Profits

Financial gains that could have been earned but were not because of a specific event or action that prevented such earnings.

Incidental Damages

Incidental damages refer to reasonable expenses incurred by a party as a result of another party’s breach of contract, including costs to mitigate damages.

Carrier

An entity that offers transportation services for goods or people, often used in the context of shipping or telecommunications.