Marginal Cost

question 123

Multiple Choice

Marginal cost

• A)Is the change in total output from hiring one more factor of production.
• B)Is the change in total cost from producing one additional unit of output.
• C)Falls when there are diminishing returns.

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Definitions:

Social Discounting Bias

A cognitive bias where people undervalue the benefits or harms of their actions on others who are socially distant.

Defense Mechanism

Psychological strategies employed by individuals to cope with reality and maintain self-image by unconsciously denying or distorting reality.

Bullying

Repeated aggressive behavior intended to hurt another individual physically, mentally, or emotionally, often involving a perceived or actual power imbalance.

Offense Behaviors

Actions or conduct that cause insult, harm, or injury, either physically or psychologically.