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Author Question: Which of the following explains why the marginal cost curve has a U shape? A) Initially, the ... (Read 75 times)

abc

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Which of the following explains why the marginal cost curve has a U shape?
 
  A) Initially, the average cost of production rises, then falls.
  B) Initially, the marginal product of labor falls, then rises.
  C) Initially, the marginal product of labor rises, then falls.
  D) Initially, the average product of labor rises, then falls.

Question 2

A market comprised of only two firms is called a
 
  A) competitive market. B) monopoly.
  C) duopoly. D) monopolistically competitive market.


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livaneabi

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abc

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Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review


6ana001

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

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