By the End of the Nineteenth Century, German Industry

question 14

Multiple Choice

By the end of the nineteenth century, German industry

• A)was prospering, having avoided costly early experimentation.
• B)was growing faster than France's.
• C)had pioneered in electrical engineering and chemicals.
• D)had entered into industrial fields neglected by the British.
• E)All of these.

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Definitions:

Marginal Cost

The increase or decrease in the total cost incurred by producing one additional unit of a product or service.

Total Variable Costs

The sum of expenses that vary directly with the level of output production.

Average Total Cost

The per unit cost of production, calculated by dividing total cost by the total quantity of output produced.

Average Variable Cost

The total variable costs divided by the quantity of output produced, reflecting the per unit cost of variable inputs.