Marginal cost is equal to the
A) change in total cost divided by the change in output.
B) change in average total costs divided by the change in output.
C) change in average product divided by the change in output.
D) change in total product divided by the change in output.
A
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According to the "beachhead effect," in order to undo the effects of a strong-dollar period, the real value of the dollar
A) must fall to at least half of its value before appreciation of the dollar began. B) must fall to the value it had before appreciation of the dollar began. C) must fall to a much lower level than it had before appreciation of the dollar began. D) must actually appreciate before it depreciates to undo the effects of a strong-dollar period.
To understand the process of adding value, managers must understand only the costs of production
Indicate whether the statement is true or false
The natural rate of unemployment is impervious to economic policy
a. True b. False Indicate whether the statement is true or false
Answer the following questions true (T) or false (F)
1. Externalities always arise because of a failure of transferability. 2. The capitalized value of a constant stream of $20 per year given an interest rate of 4% per year is $800. 3. The prior appropriation doctrine is a system in which individuals have rights to specific quantities of water and these right can be sold to others.