You Have Decided That You Want to Attend a Costume

question 191

Multiple Choice

You have decided that you want to attend a costume party as Iron Man. You estimate that it will cost $40 to assemble your costume. After spending $40 on the costume, you realize that the additional pieces you need will cost you $25 more. The marginal cost of completing the costume is

• A) $15.
• B) $25.
• C) $40.
• D) $65.

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Definitions:

Peripheral Nations

Countries that are less economically developed and often depend on core nations for capital and are exploited for labor and raw materials.

Globalization

Increased economic, political, and social interconnectedness and interdependence among societies in the world.

Per Capita GNI

A measure of a country's economic output that accounts for its number of people; it divides the gross national income by the population size.

Cash Economy

An economic system where transactions are conducted with the direct exchange of physical currency, as opposed to digital or credit transactions.