Marginal Factor Cost (MFC) Is

question 45

Multiple Choice

Marginal factor cost (MFC) is

• A)the additional cost generated by producing an additional unit of output.
• B)the additional revenue generated by employing an additional factor unit.
• C)the additional cost generated by employing an additional factor unit.
• D)total cost from the production of a product divided by the total number of factor units used.

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Definitions:

Information Technology

Information technology pertains to the use and management of computers, software, and networks for storing, retrieving, and sending information, playing a crucial role in communications, data analysis, and business operations.

Intellectual Capital

The intangible value of an organization, including the skills, knowledge, experience, and relationships of its employees.

Knowledge Resources

The information, expertise, and skills that individuals or organizations possess, which can be leveraged to make decisions, solve problems, and create value.

Information Technology

The employment of computers, storage systems, networking, and additional physical hardware, infrastructure, and methods for the generation, processing, storage, security, and transfer of all types of electronic data.