The Shape of the Marginal Cost Curve Reflects the

question 25

Multiple Choice

The shape of the marginal cost curve reflects the

• A)Law of diminishing returns.
• B)Competitiveness of the firm.
• C)Law of diminishing marginal utility.
• D)Law of demand.

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Definitions:

Medicare Tax

A federal tax deducted from an individual's wages to fund the Medicare program, which provides healthcare benefits to eligible elderly and disabled individuals.

Computer Programmer

A specialist who writes, tests, and maintains computer software or applications.

Employment Agency

A business that has lists of job openings and charges a fee to find jobs for people.

Salary

A steady payment made by an employer to an employee, usually on a monthly or biweekly schedule, although it's frequently presented as a yearly total.