Sign up or log in to view additional materials. You'll gain access to interventions, extensions, task implementation guides, and more for this lesson. In this lesson you will learn to determine the distance between integers by examining absolute value and number lines.
C. have the firm produce the quantity at which marginal revenue equals marginal cost. D. set price equal to marginal cost, even if marginal cost is less than average total cost. 13. Suppose a monopoly firm has a constant marginal cost equal to $8.
View Full Document. Diminishing marginal returns occur when the marginal gain in output diminishes as each additional unit of input is added. The term constant returns to scale describes a situation where expanding all inputs does not change the average cost of production . If a firm is experiencing decreasing returns to scale , then as the quantity of output rises, the average cost of production rises.