Marginal Resource Cost Is

question 247

Multiple Choice

Marginal resource cost is

• A)the increase in variable costs resulting from producing one more unit of output.
• B)the increase in fixed costs resulting from producing one more unit of output.
• C)the same as the marginal cost of the product.
• D)the same as the resource price when a firm is acquiring the resource in a purely competitive market.

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Definitions:

Large Corporation

A significantly sized company typically characterized by vast operations, substantial revenues, and a large number of employees.

Financial Asset

An intangible asset representing a legal claim to future payment, such as stocks, bonds, or bank deposits.

Security

A financial asset. Commonly a stock or a bond. An asset pledged to guarantee the repayment of a loan.

Stock

Equity securities representing ownership interest in a company; holders may enjoy dividends and voting rights.