Which of the Following Statements Is Correct? in Economics, a Marginal

question 6

Multiple Choice

Which of the following statements is correct? In economics, a marginal cost is:

• A) The cost of producing one additional item
• B) The amount of profit that can be made by incurring the cost of one additional item
• C) Total costs divided by total items produced
• D) Fixed costs divided by target profit

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Definitions:

Strategy

A plan of action or policy designed to achieve a major or overall aim.

CEO

Chief Executive Officer, the highest-ranking executive in a company, responsible for major corporate decisions and overall management.

Corporate Level

Pertains to the highest strategic tier in an organization, involving decisions that affect the company as a whole.

CMO

Stands for Chief Marketing Officer, a senior executive responsible for overseeing the development and execution of strategies to promote a company's brand and products.