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alphalions alphalions
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2 months ago

Suppose a given marginal cost curve starts out downward sloping and at some level of output turns upward and becomes upward sloping. The point at which it turns upward is the point at which



▸

marginal physical product increases.



▸

total cost rises.



▸

average fixed cost declines.



▸

average variable cost is below marginal cost.



▸

diminishing marginal returns set in.

Textbook 
Economics

Economics


Edition: 12th
Author:
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evgenomeevgenome
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diminishing marginal returns set in.
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alphalions Author
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2 months ago
Brilliant ツ
kc123
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This helped my grade so much Perfect
mikeh209
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2 hours ago
Correct Slight Smile TY
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