In the Short Run, Marginal Cost Is Positive and Decreasing

question 148

Multiple Choice

In the short run, marginal cost is positive and decreasing at output levels where total variable cost is ________ at a(n) ________ rate.

• A) increasing; increasing
• B) increasing; decreasing
• C) decreasing; increasing
• D) decreasing; decreasing

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Definitions:

Left Hemisphere

The hemisphere of the brain that is typically associated with analytical thought, language, logic, and sequential processing.

Planning

The process of defining goals, establishing strategies for achieving those goals, and developing plans to integrate and coordinate activities.

Creative Functions

Roles or actions that generate innovative ideas or outcomes through imaginative or original thinking.

Risk Averse

A tendency to avoid risks or to minimize potential losses.