Marginal costs are the costs relevant to a decision because they
A) are the costs that will be affected by the decision.
B) the cost of producing one more unit of output.
C) total cost divided by units of output.
D) total cost minus sunk costs.
A
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Offering goods that are similar to competitors' products but more attractive in some ways is called:
A. product distinction. B. product differentiation. C. price-point pinning. D. deceptive advertising.
The use of government spending and taxation to make changes in the level of national income is known as fiscal policy
Indicate whether the statement is true or false
Assume that the tuna fishing industry is perfectly competitive. Which of the following best characterizes the industry if, as demand for tuna increases, fishing boats have to go farther into the ocean to harvest tuna?
A) a constant-cost industry B) an increasing-cost industry C) a decreasing-cost industry D) a fixed-cost industry
If as the variable on the Y-axis rises the variable on the X-axis rises, the relationship between X and Y is said to be a positive relationship.
Answer the following statement true (T) or false (F)