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:

Altruistic Tendencies

The inclination to act in a selfless manner, prioritizing the welfare of others even at a personal cost, reflecting a fundamental aspect of human social behavior.

Agreeableness

A personality trait characterized by warmth, friendliness, and a cooperative disposition.

Willingness to Help

An individual's predisposition to assist others in need without expecting any reward.

Diffusion of Responsibility

The phenomenon where individuals feel diminished responsibility for their actions because others are seen as equally responsible.