Marginal Cost Is Equal to

question 83

Multiple Choice

Marginal cost is equal to

• A) output divided by total cost.
• B) the change in total cost divided by the change in output.
• C) total cost divided by output.
• D) the change in total cost divided by the change in total revenue.

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Definitions:

Income

The monetary gain derived from wages, salaries, investments, or other sources over a period of time.

Total Fertility Rate

The average number of children a woman is expected to give birth to during her lifetime, based on current birth rates.

Childbearing Years

The period in an individual's life, typically between puberty and menopause, when they are biologically capable of conceiving and bearing children.

Family Life Cycle

A series of stages through which a family progresses over time, including single adulthood, marriage, parenthood, and retirement.