The Change in Variable Costs That Results from Producing One

question 172

Multiple Choice

The change in variable costs that results from producing one more unit of output is called

• A)marginal variable cost.
• B)average variable cost.
• C)total variable cost.
• D)marginal cost.
• E)marginal product.

Recognize the importance of final goods in GDP calculation to avoid multiple counting.

Identify the components of the shadow (unreported) economy and its implications on GDP.

Understand the expenditures approach to GDP calculation and its components.

Comprehend the basic economic resources and their significance in the economy.