In the firm's production process, marginal cost
...In the firm's production process, marginal cost
Falls continuously throughout
Falls and later rises
Remains unchanged throughout
Rises and later falls
Correct answer is D
Marginal cost is the cost additional cost incurred by producing one additional unit of a product or service. In the production process, the cost would usually rise and the fall in the long run when the firm starts enjoying economies of scale. That is, higher outputs, minimal cost.
During a sale by auction, the price at which the goods finally sold is determined mostly by ...
There is unemployment of resources when production is ...
Which of the following would most likely be considered an example of benefit taxation? ...
Exclusions that makes Gross National Product a poor measure of welfare are ...
The financial institution that specializes in risk spreading is called ...
A country is economically rich if ...
The voting power in cooperative societies is vested on ...
The final stage in the production process of any commodity involves its movement from the ...