As a typical firm increases its output, its marginal cost
A) is constant.
B) decreases at first and then increases.
C) increases at first and then decreases.
D) decreases.
E) is negative at first and then positive.
B
Economics
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If potential GDP is equal to $600 billion, what does the long-run aggregate supply curve look like?
A) It is a vertical line at a level of GDP above $600 billion. B) It is a vertical line at $600 billion of GDP. C) It is a horizontal line at $600 billion of GDP. D) It is a vertical line at a level of GDP below $600 billion.
Economics
Governments can affect the level of aggregate demand in a direct way by changing
a. government spending. b. exports. c. taxes. d. transfer payments.
Economics