Marginal Cost

question 58

Multiple Choice

Marginal cost

• A)measures how total cost changes when input prices change.
• B)measures how total cost changes when one more unit of output is produced.
• C)is less than average cost when average cost is decreasing.
• D)both a and b
• E)both b and c

---

Definitions:

U.S. Citizen

A person who has acquired the legal status of citizenship in the United States, either by birth within its territory or through naturalization.

Skill-Based Pay

A compensation system that bases employee wages on their skills or knowledge, rather than their job title or position.

Advantages

The conditions or factors that put someone or something in a favorable or superior position compared to others.