The Short-Run Marginal-Cost Curve Is Upward-Sloping Because of the Law

question 296

True/False

The short-run marginal-cost curve is upward-sloping because of the law of diminishing marginal returns.

---

Definitions:

Independence, Missouri

A city known for its historical significance, especially as the starting point of the Oregon, California, and Santa Fe trails, and the hometown of President Harry S. Truman.

Wagon Trains

Convoys or groups of wagons traveling together, typically used for migration and transportation of goods across long distances in the 19th century American West.

Emigrants

Individuals who leave their country of origin to live permanently in another country, often in search of better living conditions or to escape conflicts.

Oregon

A state in the Pacific Northwest region of the United States known for its diverse landscapes, including forests, mountains, farms, and beaches.