Marginal Cost

question 21

Multiple Choice

Marginal cost

• A)Rises as a direct result of diminishing returns.
• B)Falls whenever marginal physical product decreases.
• C)Falls in the short run because some resources are fixed.
• D)Rises whenever marginal revenue product rises.

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Definitions:

Dominant Type

Refers to a personality style characterized by assertiveness, competitiveness, and a tendency to seek control over situations and others.

Social Interest

A concept in Adlerian psychology referring to an individual's attitude towards and concern for the welfare of others.

Inferiority

A feeling of being less than, inadequate, or not meeting the standards set by oneself or society.

Superiority

A sense or condition of being above or better than others, often manifesting in social, physical, or psychological domains.