Examlex
Which of the following is NOT correct regarding tides?
Marginal Returns
The change in output resulting from a one-unit increase in a particular input, while holding other inputs constant.
Marginal Cost
The rise in overall expenses associated with the production of an extra unit of a product or service.
Average Total Cost
The total cost of production divided by the number of units produced, giving a per unit cost of production.
Marginal Cost
The expense associated with creating an extra unit of a product or service.
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