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.
