Marginal cost is
A) all the costs of the fixed inputs.
B) all the costs of production of goods.
C) all the costs that vary with output.
D) the change in the total cost resulting from a one-unit change in output.
D
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If the Fed purchases government securities from a commercial bank, which of the following will happen?
A) The Fed will increase the bank's reserves on deposit at the Fed. B) The Fed will decrease the bank's reserves on deposit at the Fed. C) The assets (government securities) of the Fed will decrease. D) The assets (government securities) of the Fed will increase. E) a and d
Public choice theorists assert that persons who change jobs from, say, a government position to a business position, sometimes alter their work behavior and attitudes because
A) they want to fit in and be liked by their fellow workers. B) they are acting rationally by weighing the costs and benefits of certain behavior in different work settings. C) they feel that if they change jobs, they should also change their behavior. D) their new boss tells them it is in their best interest.
When Americans buy Mercedes-Benz automobiles made in Germany, they are generating a
A. Demand for U.S. dollars and a supply of a foreign currency. B. Demand for U.S. dollars and a demand for a foreign currency. C. Supply of U.S. dollars and a demand for a foreign currency. D. Supply of U.S. dollars and a supply of a foreign currency.
Initially, a pharmacy with a volume of 35,000 had fixed costs of $200,000 and variable costs of $140,000. After remodeling, its fixed costs fell to $100,000, even though its volume and variable costs were unchanged. As a result,
A. its infra-marginal costs will be lower. B. its incremental costs will be lower. C. its average costs will be lower. D. All of the above