The Explanation for Why Marginal Cost Is Positive and Rising

question 241

Multiple Choice

The explanation for why marginal cost is positive and rising in the short run is ________ marginal product of labor in the production process.

• A) a zero
• B) a constant
• C) an increasing
• D) a diminishing

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Definitions:

Passionate

Having, showing, or characterized by intense, strong feelings or enthusiasm towards an activity, person, or concept.

Fatuous

Lacking intelligence or sense; foolishly insipid.

Exchange Relationships

Relationships based on reciprocal exchange of benefits or services, guided by the principle of quid pro quo.

Societal Progress

The development and improvement of society through advancements in education, technology, science, and social norms leading to a better quality of life.