Use the following to answer question(s): Surplus and Supply

-(Exhibit: Surplus and Supply) The supply curve in the exhibit can be considered to be a ________ curve.
A) marginal benefit
B) total benefit
C) marginal cost
D) total cost

Question

Use the following to answer question(s): Surplus and Supply
 
-(Exhibit: Surplus and Supply) The supply curve in the exhibit can be considered to be a ________ curve.
A) marginal benefit 
B) total benefit 
C) marginal cost 
D) total cost

Quizplus · Accepted Answer

The supply curve in the exhibit can be considered to be a marginal cost curve because it shows the additional cost of producing one additional unit of a good or service. As the quantity supplied increases, the marginal cost of production also increases, which is reflected in the upward slope of the curve.

Use the Following to Answer Question(s): Surplus and Supply