The Slope of the Total Cost Curve as Output Increases

question 127

Multiple Choice

The slope of the total cost curve as output increases reflects

• A)decreasing marginal benefit.
• B)increasing marginal benefit.
• C)decreasing marginal cost.
• D)increasing marginal cost.
• E)increasing variable cost.

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Definitions:

Sales Tax

A tax imposed by governments on the sale of goods and services, collected at the point of sale and typically expressed as a percentage of the sale price.

Lowest Price

The minimum price at which a product or service is offered in the market.

Levied

The act of imposing or collecting a charge, tax, or fee by authority or law.

Highest Price

the maximum price at which a good or service is sold in the market or the highest price a buyer is willing to pay.