The Change in Total Cost When One More Unit of a Factor

question 130

Multiple Choice

The change in total cost when one more unit of a factor of production is added is:

• A) marginal revenue product.
• B) marginal product.
• C) marginal cost.
• D) marginal factor cost.

---

Definitions:

Midpoint

The value that lies exactly in the middle of a data set when it is ordered, or the central point of a line segment.

Set of Scores

A collection of numerical values obtained from a specific assessment or measurement.

Average Variability

The typical extent to which data points in a dataset differ from the mean or average, often measured using variance or standard deviation.

Values

Core beliefs or standards that guide behavior and decision making, or, in statistics, numerical amounts or quantities.