In General,which of the Following Implies That a Marginal Cost

question 29

Multiple Choice

In general,which of the following implies that a marginal cost curve will eventually increase as a firm produces more output?

• A)Profit maximizing behavior by the firm
• B)A production function displaying increasing returns to scale
• C)The law of diminishing returns
• D)The law of equimarginal returns

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Definitions:

Reinforced

A process in which a behavior is strengthened by the outcome that follows it, making it more likely to occur in the future.

Positive Responses

Reactions or feedback that are affirmative, favorable, or supportive in nature, indicating agreement, pleasure, or endorsement.

Respondent Behavior

Behavior that occurs as an automatic response to a specific stimulus, often used in the context of classical conditioning.

Operant Behavior

Behavior that is controlled by its consequences, including rewards and punishments.