Figure 13-3
-Refer to Figure 13-3. The changing slope of the total cost curve reflects
A)decreasing average variable cost.
B)decreasing average total cost.
C)decreasing marginal product.
D)increasing fixed cost.

Question

Figure 13-3 
-Refer to Figure 13-3. The changing slope of the total cost curve reflects
A)decreasing average variable cost. 
B)decreasing average total cost. 
C)decreasing marginal product. 
D)increasing fixed cost.

Quizplus · Accepted Answer

The changing slope of the total cost curve reflects the decreasing marginal product, as the cost increases at a decreasing rate when the marginal product of an input is decreasing.

Figure 13-3 -Refer to Figure 13-3. the Changing Slope of the Total