The Marginal Cost of Consuming Another Unit of a Good

question 25

Multiple Choice

The marginal cost of consuming another unit of a good:

• A) must equal the marginal benefit or the unit will not be consumed.
• B) must exceed the marginal benefit or the unit will not be consumed.
• C) equals the increase in total cost when another unit is consumed.
• D) equals the total cost of consuming all prior units.

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Definitions:

Doughnut Chart

A variant of the pie chart, with a blank center, used to display categorical statistics.

Pie Chart

A circular graph divided into slices to illustrate numerical proportion. Each slice's size is proportional to the quantity it represents.

Stock Chart

A graphical representation of a stock's price movements over a specific time frame, used by traders and investors to make informed decisions.

Surface Chart

A type of chart used to display three-dimensional data in two dimensions, using contours or colors to represent values along a surface.