Marginal Cost Is Calculated as

question 185

Multiple Choice

Marginal cost is calculated as

• A) total cost divided by output.
• B) the increase in total cost divided by the increase in output.
• C) the increase in total cost divided by the increase in labor, given the amount of capital.
• D) total cost minus total fixed cost.

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Definitions:

Consumption

The use of goods and services by households or individuals, considered as an economic activity that drives demand and influences economic growth.

Corn

A staple grain used worldwide, serving as a basic food item, a source of livestock feed, and a raw material for biofuel and sweeteners.

Storage

Refers to the act of retaining or securing goods and information for future use.

Consumption

Utilization of products and services by household members.