Marginal Cost Is

question 151

Multiple Choice

Marginal cost is

• A) all the costs of the fixed inputs.
• B) all the costs of production of goods.
• C) all the costs that vary with output.
• D) the change in the total cost resulting from a one-unit change in output.

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Definitions:

Law Of Large Numbers

A principle that describes the result of performing the same experiment a large number of times, indicating that the average of the results obtained will be close to the expected value, and will tend to become closer as more trials are performed.

Uncertain Situations

A condition where the outcomes or consequences of an event are not known or predictable.

Diversification

A strategy for managing risk that involves diversifying the portfolio by incorporating a broad array of investments.

Uncertain Situations

Scenarios in which outcomes or conditions are not known, predictable, or completely measurable, often affecting decision making.