Graph 13-2 This Graph Depicts a Total Cost Function

question 165

Multiple Choice

Graph 13-2 This graph depicts a total cost function for a firm that produces cookies.Use the graph to answer the following question(s) .
-Refer to Graph 13-2.Which of the statements below is most consistent with the shape of the total cost curve?

• A)producing additional cookies is equally costly, regardless of how many cookies are already being produced
• B)producing additional cookies becomes increasingly costly only when the number of cookies already being produced is large
• C)producing an additional cookie is always more costly than producing the previous cookie
• D)total production of cookies decreases with additional units of input

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Definitions:

Infant

In legal terms, refers to a person who is under the age of majority, and thus limited in their legal capacity to contract or make decisions.

Defame

To damage someone's reputation, name, or character through false and malicious statements.

Guarantee

A formal pledge to ensure the fulfillment of a contract or the performance of an obligation, sometimes by providing a replacement or repair in case of default.

Restraint of Trade

Limitations or restrictions on individuals' or companies' business conduct aimed at promoting fair competition and reducing monopolistic practices.