What is marginal cost?
a. the change in total costs resulting from a one-unit change in output
b. a per-unit measure of costs that change with the level of output
c. an estimate of the per-unit value of the best alternative not pursued
d. a cost counted toward economic profits but not accounting profits
a. the change in total costs resulting from a one-unit change in output
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When does the Fed lend through discount windows?
What will be an ideal response?
What factor(s) enable a monopoly to make an economic profit in the long run?
What will be an ideal response?
Which resource is the main contributor to economic growth in the United States, Latin America, and South Asia?
A) growth in physical capital B) growth in human capital C) growth in labor D) growth in natural resources
The net present value of $1,000 received at a time in the future would
a. decline if the $1,000 were received sooner. b. increase if the delivery date for the $1,000 were set farther into the future. c. increase if the interest rate rose. d. increase if the interest rate fell.