Marginal Cost Increases as the Quantity of Output Increases

question 84

Multiple Choice

Marginal cost increases as the quantity of output increases. This reflects the property of

• A)increasing total cost.
• B)diminishing total cost.
• C)increasing marginal product.
• D)diminishing marginal product.

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Definitions:

Steady Increase

A consistent rise or growth in numbers or volume over a period of time.

Sudden Decrease

An abrupt decline in the quantity or quality of something, which can concern various contexts such as population, health, or environmental conditions.

Narcotics

Psychoactive substances that tend to induce sleep or numbness and may lead to dependence or addiction, commonly used for pain relief.

Serotonin

A neurotransmitter in the brain that plays a key role in stabilizing mood, feelings of well-being, and happiness, also affecting digestion, sleep, and other bodily functions.