Marginal Cost Is

question 189

Multiple Choice

Marginal cost is

• A) the same as the marginal benefit because producers benefit from the money they receive when they sell the good.
• B) the opportunity cost of producing one more unit.
• C) the total opportunity cost of producing all the units of the good.
• D) zero at the efficient level of production.

---

Definitions:

Sample Variance

A statistic used to estimate the variance of a population, calculated from a sample of data from that population.

Hypothesis Test

A procedure for testing a hypothesis about a parameter in a population, using data measured in a sample.

Population Variance

A statistical measure that calculates the variance of the entire population, representing the average of the squared differences from the population mean.

Significance Level

The threshold below which a test statistic's p-value must fall for an effect to be considered statistically significant.