The upward slope of supply and downward slope of demand indicate: Select ALL that apply. Diminishing returns. more is consumed, the marginal benefit…

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The upward slope of supply and downward slope of demand indicate:

Select ALL that apply.

  • Diminishing returns.
  • more is consumed, the marginal benefit of consumption decreases.
  • As more is produced, the marginal cost of production decreases.
  • As more is consumed, the total benefit of consumption decreases.
  • As more is consumed, the marginal benefit of consumption increases.
  • As more is produced, the marginal cost of production increases.

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