The Marginal Cost of an Input Is Equal to the Change

question 28

True/False

The marginal cost of an input is equal to the change in the firm's total cost that results from employing the number of units of the input necessary to produce one more unit of output.

---

Definitions:

Gilberto

Typically a person's name, which may not have a singular widely-recognized definition without context.

Trumpet

A brass musical instrument with a flared bell and three valves for producing a wide range of notes.

Cookbooks

Collections of recipes and cooking guidance meant to assist individuals in preparing meals.

Good Cook

A person who is skilled in the art of preparing and combining food ingredients to create delicious meals.