A Marginal Cost Curve

question 338

Multiple Choice

A marginal cost curve

• A) is upward sloping.
• B) shows that as more of a good is produced, opportunity costs of producing another unit increase.
• C) is bowed inward so that its slope can become negative.
• D) Both answers A and B are correct.

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Definitions:

Medium Of Exchange

An intermediary instrument used to facilitate the sale, purchase, or trade of goods between parties, commonly accepted in the form of money.

Barter

The exchange of goods and services between parties without the use of money as a medium of exchange.

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Financial instruments issued by banks that allow users to borrow funds from a pre-approved limit to purchase items or withdraw cash.

Bank Of America

A multinational investment bank and financial services holding company based in the United States, serving millions of customers worldwide.