When quantity produced is high, the total cost curve becomes .

flatter

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vertical

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horizontal

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steeper

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Solution

The correct option is D steeper
As quantity produced is high, the total-cost curve becomes steeper. This happens because marginal product is diminishing at this stage.

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Similar questions

Q. The total-cost curve is the total-product curve.

The market demand curve for a commodity and the total cost for a monopoly firm producing the commodity is given in the schedules below.

Quantity	0	1	2	3	4	5	6	7	8
Price	52	44	37	3	26	22	19	16	13

Quantity	0	1	2	3	4	5	6	7	8
Total Cost	10	60	90	100	102	105	109	115	125

Use the information given to calculate the following:

(a) The MR and MC schedules

(b) The quantities for which MR and MC are equal

(d) The total revenue, total cost and total profit in the equilibrium

Study the supply curve given below and answer the following question.

For the supplier, when the marginal cost of producing a unit is $2, his profit is maximized. What quantity would he supply?

The market demand curve for a commodity and the total cost for a monopoly firm producing the commodity is given by the schedules below. Use the information to calculate the following :

$\begin{matrix} Quantity & 0 & 1 & 2 & 3 & 4 & 5 & 6 & 7 & 8 Price & 52 & 44 & 37 & 31 & 26 & 22 & 19 & 16 & 13 \end{matrix}$

$\begin{matrix} Quantity & 0 & 1 & 2 & 3 & 4 & 5 & 6 & 7 & 8 Price & 10 & 60 & 90 & 100 & 102 & 105 & 109 & 115 & 125 \end{matrix}$

(i) The MR and MC schedules.

(ii) The quantities for which MR and MC equal.

(iii) The equilibrium quantity of output and the equilibrium price of the commodity

(iv) Total revenue, total cost and total profit in equilibrium

Q. When average cost is falling, marginal cost curve:

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When quantity produced is high, the total cost curve becomes .

The correct option is D steeperAs quantity produced is high, the total-cost curve becomes steeper. This happens because marginal product is diminishing at this stage.

The correct option is D steeper
As quantity produced is high, the total-cost curve becomes steeper. This happens because marginal product is diminishing at this stage.