-What Could Have Caused the Marginal Cost Curve to Decrease

question 165

Multiple Choice

-What could have caused the marginal cost curve to decrease from MC₁ to MC₂?

• A)Total costs have increased
• B)Average total costs have increased.
• C)Marginal product has increased.
• D)Average variable costs have increased
• E)Fixed costs have decreased.

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Definitions:

Success-Stimulus

The principle that success in a certain activity or field encourages continued action and effort in that or similar activities.

Preferences

Individual choices or inclinations towards certain options, actions, or outcomes, often studied in psychology and economics.

Availability of Resources

The extent to which necessary or desired materials, information, support, or capital is accessible for use or consumption.

Achieving Goals

The process or act of identifying and working towards objectives, often involving planning, effort, and a focused approach.