MC Qu. 41 If the variable cost curve is a straight... If the variable cost curve is a straight line, then the O marginal cost curve will be horizontal. O marginal cost curve is upward sloping. marginal cost curve will be U-shaped. O marginal cost curve may be U-shaped.

3) Which of the following is not true about the marginal cost? Oo The marginal cost (MC) curve is U shaped. It can be calculated by dividing the change in the total cost by the change in the output. It is the additional cost incurred by a firm from changing output by a certain amount. It can be calculated by dividing the total cost by the quantity.

When fixed costs are ignored because they are irrelevant to a business's production decision, they are called O explicit costs. O implicit costs. Osunk costs. O opportunity costs.

Question 4 For a firm, the production function represents the relationship between OOO implicit costs and explicit costs. quantity of inputs and total cost. quantity of inputs and quantity of output. quantity of output and total cost. iz Instructions Question 5 Grace is a self-employed artist. She can make 20 pieces of pottery per week. She is considering hiring her sister Kate to work for her. Both she and Kate can make 35 pieces of pottery per week. What is Kate's marginal product? O 15 pieces of pottery O22.5 pieces of pottery O 35 pieces of pottery O 55 pieces of pottery