The Cost of Producing One More Unit of a Good

question 73

Multiple Choice

The cost of producing one more unit of a good or service is equal to its

• A) consumer surplus.
• B) marginal expenditure.
• C) marginal cost.
• D) marginal benefit.
• E) producer surplus.

---

Definitions:

Federal Bureaucracy

The collection of government agencies and institutions that implement and administer federal laws and programs.

Administrative Law Judges

Officials within federal or state agencies who conduct hearings and make decisions on disputes involving the agency's regulations.

Political Support

Backing provided to a politician or political party by voters, often reflected through electoral support or public endorsement.

Independent Agencies

Organizations within the federal government that operate independently of the executive departments, often established to regulate and oversee specific aspects of the economy or society.