Which of the Following Explains Why the Marginal Cost Curve

question 107

Multiple Choice

Which of the following explains why the marginal cost curve has a U shape?

• A) Initially, the marginal product of labour falls, then rises.
• B) Initially, the average product of labour rises, then falls.
• C) Initially, the marginal product of labour rises, then falls.
• D) Initially, the average cost of production rises, then falls.

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Definitions:

Secretary Of State

A high-ranking official in the U.S. government responsible for foreign affairs, traditionally regarded as the top cabinet post.

Hamilton

Alexander Hamilton, a founding father of the United States, known for being the first Secretary of the Treasury and founding the nation's financial system.

Jay's Treaty

A 1795 treaty between the United States and Great Britain that averted war, resolved issues remaining since the Treaty of Paris of 1783, and facilitated ten years of peaceful trade between the United States and Britain.

Neutrality Policy

A foreign policy stance whereby a country seeks to avoid alliances and conflicts with other nations, maintaining a position of neutrality in international affairs.