Marginal Cost Eventually Increases Because

question 361

Multiple Choice

Marginal cost eventually increases because

• A) of the law of diminishing returns.
• B) eventually each additional worker produces a successively smaller addition to output.
• C) the marginal product of the variable input eventually falls.
• D) All of the above answers are correct.

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Definitions:

Sensory Memory

A very short-term memory that holds sensory information, allowing individuals to retain impressions of sensory information after the original stimulus has ceased.

Encoded

The process of converting information into a different form or code, usually for the purpose of secrecy, storage, or transmission.

Daydreaming

The act of detaching from one's immediate surroundings to envision scenarios, often reflecting desires, hopes, or creative thoughts.

Visualized

The process of forming a mental image of something, making it possible to see or imagine something within one's mind.