Examlex

Solved

It Would Be a Mistake to Provide New Gloves to the School's

question 72

Multiple Choice

It would be a mistake to provide new gloves to the school's baseball players. In no time the football players will want new equipment. Then the tennis players will want new courts, the hockey players will want a new arena, the swimmers will want a new pool, and the golfers will want their own special course. The costs for these facilities will go through the roof.


Definitions:

Marginal Curve

A graphical representation of the marginal cost, marginal revenue, or marginal benefit of producing additional units of a good or service.

Marginal Cost

The extra expenditure involved in creating one additional unit of a product or service.

Gadgets Production

The manufacturing process of creating small electronic devices designed for a particular purpose or function.

Marginal Cost Curve

A graphical representation showing how the cost of producing one more unit depends on the quantity that has already been produced.

Related Questions