Which of the Following Statements Is True

question 29

Multiple Choice

Which of the following statements is true?

• A)The marginal cost curve has an upward-sloping portion to it because of the law of diminishing marginal returns.
• B)The marginal cost curve cuts the ATC curve at its highest point.
• C)When marginal cost is rising, so must average total cost be rising.
• D)A decline in marginal cost causes the MPP (of the variable input) to decline.
• E)none of the above

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Definitions:

Success Occurrence

A term referring to the incidence or event in which a desired outcome or goal is achieved.

Random Variable

A mathematical variable with numerical outputs originating from random incidents.

Major Organic Product

The major organic product is the primary substance produced in a chemical reaction involving organic compounds, usually present in the largest amount compared to other products.

Organic Reaction

A chemical reaction involving organic compounds, where the reactants undergo a chemical change to produce new organic products.