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:

Eysenck's Higher-order

A description of personality that is based on Eysenck’s hierarchical model of personality, focusing on higher-order traits such as extraversion, neuroticism, and psychoticism.

Extraversion

A personality trait characterized by sociability, assertiveness, excitement-seeking, and positive emotional experiences.

Sociable

Characteristic of enjoying companionship and being friendly.

Biological Approaches

These refer to studying psychological mechanisms and behaviors through the lens of biology, including genetics, neurochemistry, and anatomy.