Price wars occur more often in monopolistic competition than in other market structures

In the figure above, diminishing marginal utility is shown by

A) total utility curve A. B) total utility curve B. C) total utility curve C. D) all three curves.

A firm's marginal factor cost describes

A) the increase in the firm's total revenue as one more unit of output is sold. B) the change in total fixed cost that results from hiring one more unit of input. C) the change in total variable cost that results from the production of an extra unit of output. D) the change in total cost that results from using one more unit of an input.