The marginal cost curve is
A) downward sloping to reflect the bowed out PPF.
B) downward sloping as marginal benefits increase.
C) upward sloping because marginal cost falls as more of a good or service is produced.
D) upward sloping to reflect the increasing opportunity cost of producing one more unit.
E) U-shaped to reflect the bowed out PPF.
D
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Since the end of World War II, corporate income taxes have accounted for
a. an increasing share of federal revenue. b. a steady share of federal revenue. c. a declining share of federal revenue. d. a rising share of revenue until 1980, and then a falling share.
An export is a product:
A. produced in and purchased by residents of the home country. B. produced in and sold to the residents of a foreign country. C. produced in the home country and sold in another country. D. produced in a foreign country and purchased by the residents of the home country.