The Marginal Cost Curve

question 110

Multiple Choice

The marginal cost curve

• A)Is not affected by changes in the price of variable inputs.
• B)Slopes downward to the right as output increases.
• C)Is the long-run supply curve for a competitive firm at prices below the AVC curve.
• D)Is the short-run supply curve for a competitive firm at prices above the AVC curve.

---

Definitions:

Situational Attributional Tendency

The tendency to attribute an individual's behavior to situational factors rather than to internal personality traits.

Internal Characteristics

The traits, attributes, or features that originate within an individual's psychological or biological makeup.

Defensive Attribution

A psychological process by which individuals tend to ascribe fewer vulnerabilities to themselves than to others to avoid feeling vulnerable to misfortunes.

Cognitive Dissonance

A state of psychological discomfort caused by holding two conflicting beliefs, values, or attitudes.