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QUESTION
The marginal cost curve is generally ________, because diminishing marginal returns implies that additional units are ________.
The marginal cost curve is generally ________, because diminishing marginal returns implies that additional units are ________.
downward-sloping; less costly to produce
upward-sloping; less costly to produce
downward-sloping; more costly to produce
upward-sloping; more costly to produce
When an owner uses resources they own in a business, that usage should be considered
an implicit cost
a fixed cost
an explicit cost
a direct cost
