Marginal cost begins to rise when
A) diminishing marginal product begins.
B) diminishing marginal product ends.
C) average total cost falls.
D) fixed cost falls.
Answer: A
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Aggregate planned expenditure decreases if
A) exports increase. B) government expenditure on goods and services increases. C) autonomous consumption increases. D) real GDP decreases. E) investment increases.
In 1997 the Federal Trade Commission was granted a preliminary injunction on a proposed merger between Staples and Office Depot
The FTC was able to convince the federal district court that allowing the merger would create the potential for anticompetitive prices since it would give the newly merged company a 75% market share and would only leave Office Max as the remaining office supply superstore. Critically evaluate the FTC's use of "office supply superstores" as the relevant market.