Marginal cost curve will eventually increase firm produces

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1. The general rule for profit maximization in a firm is to A. set average cost at its minimum. B. reduce fixed costs by expanding output. C. maximize sales revenue. D. set marginal revenue equal to marginal cost.

2. In general, which of the following implies that a marginal cost curve will eventually increase as a firm produces more output? A. Profit maximizing behavior by the firm B. A production function displaying increasing returns to scale C. The law of diminishing returns D. The law of equimarginal returns

Reference no: EM131240570

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