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Why does the marginal cost (MC) curve slope downward? 1. Because the cost of insuring the marginal consumer rises because of resource constraints 2. Because
Why does the marginal cost (MC) curve slope downward?
1. Because the cost of insuring the marginal consumer rises because of resource constraints
2. Because supply curves usually slope downward
3. Because consumers are adversely selecting, with the highest-cost consumers first in, and the lowest-cost last
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