The Additional Cost a Firm Will Incur by Producing One

question 11

Multiple Choice

The additional cost a firm will incur by producing one additional unit of output is:

• A)variable cost.
• B)fixed cost.
• C)marginal cost.
• D)total cost.

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Definitions:

Pressure Switch

An apparatus that engages or disengages an electric circuit in response to reaching a specified fluid pressure at its input.

Ladder Logic

A graphical programming language used in programmable logic controllers (PLCs) that represents electrical control circuits with symbols resembling a ladder.

Functional Block Diagram

A graphical representation of a system’s functional relationships, showing blocks (functions) interlinked by lines which represent the system’s flow of data.

Power Rails

Electrical conductors that provide a supply voltage to a circuit or part of a circuit.