Marginal Cost Is the Change In

question 82

Multiple Choice

Marginal cost is the change in:

• A) total cost resulting from a 1-unit change in a variable input.
• B) total cost resulting from a 1-unit change in quantity.
• C) total cost resulting from a 1-unit change in average cost.
• D) average cost resulting from a 1-unit change in quantity.

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Definitions:

Consistency

The quality of always behaving or performing in a similar way, or the quality of being logical and containing no contradictions.

Consensus

A general agreement among a group of people or in the literature on a particular issue or decision.

Distinctiveness

The quality of being easily distinguishable or unique from others, often used to describe characteristics that set individuals, groups, or objects apart.

Disposition

The inherent qualities of mind and character that influence an individual's behavior and attitudes.