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:

Sensory Input

The stimuli that are perceived by our senses like sight, sound, smell, taste, and touch, which are then processed by our brains to engage with the environment.

Nervous System

The complex network of nerve cells and fibers that transmits nerve impulses between parts of the body.

OECD

The Organisation for Economic Co-operation and Development, an international organization that works to build better policies for better lives among its member countries.

Tax Revenue

The financial resources acquired by governments via taxation.