The change in total costs due to a one-unit change in the production rate is
A) total fixed cost.
B) total variable cost.
C) marginal cost.
D) average total cost.
Answer: C
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Which of the following is a lagging economic indicator?
A) Housing starts B) Employment C) Retail sales D) Inflation
Growth in real output per person occurred, on average, in colonial America. This growth translated into a great improvement in the quality of life for all citizens
Indicate whether the statement is true or false
An increase in aggregate demand is most likely to cause an increase in the price level when the economy is
a. operating near full employment. b. on the horizontal part of the aggregate supply curve. c. operating with high unemployment. d. operating with substantial excess capacity.
Net domestic product equals gross domestic product plus depreciation
Indicate whether the statement is true or false