Examlex
Jody is completing a test in which she has to name as many state capitals as she can in one minute; Aditi is trying to complete analogies between pairs of abstract diagrams. Jody is taking a test of _________ intelligence; Aditi, a test of __________.
Marginal Returns
The additional output that is produced as a result of increasing one more unit of an input while holding other inputs constant.
Marginal Cost
The additional cost incurred from the production of one more unit of a product or service.
Total Cost
The complete cost of production that includes both fixed and variable costs.
Opportunity Cost
The best alternative that we forgo, or give up, when we make a choice or a decision.
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