Asked by Mitylene Bailey on May 03, 2024
Verified
Refer to Table 13-8. What is the shape of the marginal cost curve for this firm?
A) constant
B) upward-sloping
C) downward-sloping
D) U-shaped
Marginal Cost Curve
A graphical representation showing the change in total production cost resulting from producing one additional unit of a good.
Upward-Sloping
Typically refers to the positive slope of a supply curve in economics, indicating that as the price increases, the quantity supplied also increases.
Output
The collective volume of products or services generated by an enterprise, sector, or economic system.
- Review and explicate the several configurations of cost curves within the sphere of production and cost assessment.
Verified Answer
HJ
Hunter JohnsonMay 08, 2024
Final Answer :
B
Explanation :
The marginal cost increases with each additional unit produced, indicating an upward-sloping curve. This is seen from the increasing variable costs for each additional unit of output.
Learning Objectives
- Review and explicate the several configurations of cost curves within the sphere of production and cost assessment.