In the 1400s, After the Ming Admiral, Zhenghe, Had Successfully

question 47

True/False

In the 1400s, after the Ming admiral, Zhenghe, had successfully led several large sailing expeditions to the coast of Africa and throughout Southeast Asia, the voyages were discontinued and were never revived.

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Definitions:

Marginal Costs

The increase in total cost that arises from an extra unit of production.

Marginal Benefit

The additional satisfaction or utility that a person receives from consuming an additional unit of a good or service.

Marginal Cost

The increase in total cost that arises from producing one additional unit of a product or service.

Marginal Cost

The increase or decrease in the total cost that arises when the quantity produced is incremented by one unit.