The marginal cost curve for a product slopes upward as more units are produced because of the law of increasing costs.

Question

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The law of increasing costs states that as production increases, the cost of producing each additional unit rises. This is due to various factors such as the scarcity of resources or the need to invest in new technology. As a result, the marginal cost curve for a product slopes upward as more units are produced.

The Marginal Cost Curve for a Product Slopes Upward as More