If Total Cost Rises as the Level of Output Produced

question 38

Multiple Choice

If total cost rises as the level of output produced increases,then:

• A)marginal cost must be rising.
• B)marginal cost must be constant.
• C)marginal cost must be falling.
• D)marginal cost must be positive.

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Definitions:

Unemployment Rate

The percentage of the labor force that is jobless and actively looking for employment.

Ppf

Production Possibility Frontier, a curve depicting all maximum output possibilities for two or more goods given a set of inputs.

Capital Goods

Long-term assets used in the production of other goods and services, such as machinery, buildings, and equipment.

Consumer Goods

Products and services that are purchased by individuals for personal consumption and satisfaction.