The Change in Total Cost from Producing Another Unit of Output

question 106

Multiple Choice

The change in total cost from producing another unit of output equals the

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

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Definitions:

Net Capital Outflow

The difference between a nation's savings and its investment, representing the amount of domestic capital invested abroad minus the foreign capital invested domestically.

Pound Sterlings

The official currency of the United Kingdom, commonly known as the pound and denoted by GBP, which is one of the world's major currencies.

Bonds

Debt securities issued by entities such as governments or corporations to finance projects or operations, with the promise to repay the principal along with interest.

Open Economy

An economy that engages in international exchange of goods, services, and capital by allowing cross-border trade and investment.