-In the Above Figure, Curve D Slopes Downward Because

question 298

Multiple Choice

-In the above figure, curve D slopes downward because

• A) average fixed costs decrease as output increases.
• B) all costs decrease as output increases.
• C) there are diminishing returns.
• D) there are decreasing marginal costs.

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Definitions:

Trade Deficit

A situation where a country's imports of goods and services exceed its exports, leading to a negative balance of trade.

Major Concern

A primary or significant issue that requires attention or resolution within a particular context, such as economy, environment, or society.

China

A country in East Asia, the world's most populous nation, with a long history, rich culture, and rapidly growing economy that plays a significant role in global affairs.

Merchandise Trade Deficit

A country's merchandise trade deficit occurs when its imports of physical goods exceed its exports within a given period.