Marginal cost is equal to
A) the total cost of a firm's production.
B) total cost minus fixed cost.
C) a cost that is not related to the quantity produced.
D) the change in total cost that results from a one-unit increase in output.
E) the change in fixed cost that results from a one-unit increase in output.
D
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All firms and all industries face identical long-run average cost curves
Indicate whether the statement is true or false
A nation can determine how close it is to the classical range by considering its:
a. Net export position. b. Capacity utilization index. c. Exchange rate. d. All of the above.
Which of the following about inventory changes and GDP is true?
What will be an ideal response?
An example of the opportunity to gain human capital would be:
A. a firm offering on-the-job training. B. a firm starting a community garden for its employees. C. a firm expanding and creating 20 more jobs. D. All of these are examples of human capital.