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:

Equitable Remedy

A non-monetary court order to perform or refrain from performing a specific act, aimed at achieving fairness.

Privity of Contract

A doctrine in contract law stating that only parties involved in the contract have the right to sue or be sued on its terms.

Assignments

The transfer of rights, property, or responsibilities from one party to another, often used in the context of legal and academic settings.

Contractual Relationship

A legal bond between parties, created by an agreement, that outlines rights and obligations.