Which of the Following Statements Is Correct

question 107

Multiple Choice

Which of the following statements is correct?

• A)Average total cost is the difference between average variable cost and average fixed cost.
• B)Marginal cost measures the cost per unit of output associated with any level of production.
• C)When marginal product rises, marginal cost must also rise.
• D)Marginal cost is the price or cost of an extra variable input (for example, an additional worker or machine) divided by its marginal product.Topic: Short-Run Production Relationships

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Definitions:

Personality Differences

Variations in the characteristic patterns of thinking, feeling, and behaving among individuals.

Major Sources

Major sources refer to the primary or most important origins or points of information, supply, or influence.

Personality Stability

The consistency of individual characteristics, traits, and behaviors over time.

Positive Emotions

Feelings that are enjoyable or pleasing, such as happiness, joy, excitement, and love.