This Type of Cost Is Irrelevant When Making Decisions at the Margin

question 21

Multiple Choice

This type of cost is irrelevant when making decisions at the margin.

• A)Marginal cost
• B)Diminishing cost
• C)Sunk cost
• D)Incremental cost

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Definitions:

Chesapeake Colonists

Early settlers of the British colonies in the Chesapeake Bay area, primarily Virginia and Maryland, during the 17th century.

New England Colonists

Early settlers of the Northeastern United States, primarily from England, who established some of the first successful European colonies in the 17th century.

1640

A year known for the beginning of the English Civil War, a period of armed conflict and political machinations between Parliamentarians and Royalists.

Roger Williams's Banishment

The expulsion of Roger Williams, a religious leader and advocate for the separation of church and state, from the Massachusetts Bay Colony in 1636, leading to the founding of Rhode Island.