Which of the following denotes the typical shape of the monopolist’s total cost curve?
A. total costs decrease and become flatter as output rises
B. total costs rise and grow steeper as output rises
C. higher output levels create the typical downward sloping cost curve
D. total costs are typically constant and are shown by a straight horizontal line
Answer:B
Which of the following denotes the typical shape of the monopolist’s total cost curve?
A. total costs decrease and become flatter as output rises B. total costs rise and grow steeper as output rises C. higher output levels create the typical downward sloping cost curve D. total costs are typically constant and are shown by a straight horizontal line
Explanation: 53. When a monopolist increases sales by one unit,