If a firm is producing as efficiently as it knows how,the how will the total cost function slope?
A)Upward
B)Downward
C)No Slope
D)Downward until an output threshold value, then upward
E)Upward until an output threshold value, then downward

Question

Quizplus · Accepted Answer

The total cost function slopes upward because as production increases, total costs generally increase due to the need for more inputs and resources.

If a Firm Is Producing as Efficiently as It Knows