Marginal cost always reflects the cost of variable factors.
Answer the following statement true (T) or false (F)
True
Marginal cost is the change in total cost that occurs when more output is produced. However, fixed costs are constant, so the change in total cost will be the result of a change in variable costs only.
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The primary legislative branch of the European Union is called the
A) European Commission. B) European Parliament. C) European Court of Justice. D) European Council of Ministers. E) Council of the European Union.
Daryn earns a higher salary than his friend Nick because Daryn is willing to work on the loading dock, whereas Nick prefers to work in an air-conditioned office. The difference in salary could illustrate a compensating differential
a. True b. False Indicate whether the statement is true or false
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