Marginal Cost

question 29

Multiple Choice

Marginal cost

• A)is the opportunity cost of producing one more unit of a good or service.
• B)is unrelated to the production possibilities frontier.
• C)equals marginal benefit.
• D)is less than marginal benefit.
• E)is greater then marginal benefit.

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Definitions:

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Deductible

The amount an insured individual must pay out of pocket before an insurance company pays a claim.

Co-payment

A payment model where the insured party pays a specified amount out-of-pocket for health services, with the insurance covering the remaining costs.