Suppose the Marginal Cost Curve in the Short Run First

question 27

Multiple Choice

Suppose the marginal cost curve in the short run first decreases and then increases.If marginal cost is decreasing,_____ must be _____ and _____ must be _____.

• A)marginal product;increasing;average fixed cost;zero
• B)average variable cost;decreasing;average fixed cost;increasing
• C)average total cost;increasing;marginal cost;decreasing
• D)marginal product;increasing;average variable cost;decreasing

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Definitions:

Satisfying Outcomes

Outcomes that fulfill or exceed the expectations of an individual, leading to contentment or happiness.

Behaviors

The observable actions, reactions, or conduct of an individual or group in response to external or internal stimuli.

Frustrating Outcomes

Results of actions that cause annoyance or disappointment due to failure to satisfy needs or expectations.

Aversive Conditioning

Aversive conditioning is a type of behavior conditioning where a noxious stimulus is associated with undesirable behaviors to reduce their occurrence.