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:

Visuospatial Sketchpad

A component of the working memory model that processes visual and spatial information, allowing for the manipulation of images and spatial orientation in the mind.

Working Memory

A mental system tasked with the short-term retention of information for its utilization in thinking, critical for guiding both decisions and actions.

Phonological Loop

A component of working memory responsible for the temporary storage and manipulation of verbal and auditory information.

Working Memory

A form of short-term memory that involves the temporary holding, processing, and manipulation of information for cognitive tasks.