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.

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.

Expert's answer

A logarithmic variable cost function implies that, select one marginal cost is increasing at an increasing rate.

So, the correct answer is b.

So, the correct answer is b.

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