Answer to Question #60223 in Microeconomics for Bob

Question #60223
A logarithmic variable cost function implies that, select one

a. marginal cost is increasing at a decreasing rate.
b. marginal cost is increasing at an increasing rate.
c. marginal cost is constant.
d. marginal cost is decreasing as quantity increases.
1
Expert's answer
2016-06-01T14:34:03-0400
A logarithmic variable cost function implies that, select one marginal cost is increasing at an increasing rate.
So, the correct answer is b.

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