Marginal cost increases as the quantity of output increases. This reflects the property of
A)increasing total cost.
B)diminishing total cost.
C)increasing marginal product.
D)diminishing marginal product.

Question

Quizplus · Accepted Answer

This reflects the property of diminishing marginal product, where the additional output produced by each additional unit of input decreases, leading to an increase in marginal cost.

Marginal Cost Increases as the Quantity of Output Increases