Determining the Marginal Cost of Output (Or Different Activity Levels)

question 15

Multiple Choice

Determining the marginal cost of output (or different activity levels) requires dividing

• A) % total output by the % funding at that activity level
• B) % total output at that activity level by the % change in funding from the previous activity level
• C) % change in total output from the previous activity level by the % funding at that activity level
• D) % change in total output from the previous activity level by the % change in funding from the previous activity level

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Definitions:

Modernize

refers to the process of adopting newer methods, ideas, or technologies in various spheres such as infrastructure, economy, and social practices to improve efficiency and quality of life.

Technopoly

A society that highly values and depends on technology, often prioritizing technological advancement over other social values.

Normal Accidents

A concept in the sociology of large technological systems that predicts that accidents are inevitable in complex systems due to their intricacies and the interdependence of their components.

High Tech

Industries or companies involved in developing and producing advanced technology products or services.