Use the Following to Answer Questions

question 14

Multiple Choice

Use the following to answer questions:
-(Table: Marginal Cost of Sweatshirts) Look at the table Marginal Cost of Sweatshirts. The marginal cost of the fifth sweatshirt is:

• A) $17.
• B) $15.
• C) $13.
• D) $11.

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Definitions:

Marginal Benefit

The additional benefit received from consuming one more unit of a good or service.

Marginal Social Cost

The additional cost to society as a whole from producing one more unit of a good or service, including both private costs and externalities.

Marginal Revenue

Change in revenue resulting from a one-unit increase in output.

Employee Effort Level

The degree to which an employee is motivated to exert effort in their work tasks and responsibilities.