The marginal cost curve:
a. Usually declines initially as output increases and then rises with further increases in output
b. Is equal to the average variable cost curve
c. Usually rises initially as output increases and declines with further increases in output
d. Is always constant
Question 2
You are a restaurant owner buying vegetables from a local farmer. You recently found out that another one of the farmer's clients, a competing restaurant has shut down, what would that do to your bargaining power?
a. Increase your bargaining power
b. Decrease your bargaining power
c. Not affect your bargaining power
d. None of the above
An Inverted U Curve
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