The Additional Cost Resulting from a Small Increase in Some

question 116

Multiple Choice

The additional cost resulting from a small increase in some activity is called the:

• A) marginal cost.
• B) marginal benefit.
• C) diminishing returns of the activity.
• D) opportunity cost.

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Definitions:

Serial Entrepreneurship

The practice of starting new businesses one after another, often moving from one interest or opportunity to another.

Glass Ceiling

An invisible barrier that prevents certain individuals, often women and minorities, from advancing to higher positions or levels, despite their qualifications.

Economic Independence

The state of having sufficient personal wealth to live, without needing to depend on income from some form of employment.

Access Capital

The ability of a business or individual to obtain funds or resources needed for investment purposes.