Marginal Cost Is The

question 146

Multiple Choice

Marginal cost is the:

• A)increase in total cost when one more unit of output is produced.
• B)reduction in cost from economies of scale.
• C)ratio of average total cost to total cost.
• D)increase in output from the addition of one unit of labor.

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Definitions:

Knowledge Potential

The capacity or ability of individuals or organizations to acquire, develop, and utilize knowledge for innovation or improvement.

Performance Management

A systematic process by which an organization involves its employees in improving organizational effectiveness through objective setting, feedback, and coaching.

Leadership Development

The process of training and developing skills in individuals to enable them to lead teams, projects, or organizations effectively.

Goal Setting

The process of identifying specific, measurable, achievable, relevant, and time-bound objectives that motivate and guide individuals or organizations.