Which of the Following Measures of Cost Is Best Described

question 596

Multiple Choice

Which of the following measures of cost is best described as "the increase in total cost that arises from an extra unit of production?"

• A)variable cost
• B)average variable cost
• C)average total cost
• D)marginal cost

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Definitions:

Complimentary

Something given for free or at no charge.

Souvenir

An item kept as a reminder of a place, event, or experience, often collected during travels or special occasions.

Gift

A present or item given to someone willingly without expecting payment; often used in marketing as promotional material or a loyalty reward.

Referral

A prospect who has been referred to a salesperson by another person.