Which of the Following Is True

question 186

Multiple Choice

Which of the following is true?
i.Marginal cost is measured by the maximum price that consumers are willing to pay for another unit of a good or service.
ii.Producer surplus equals marginal benefit minus price,summed over the quantity produced.
iii.A supply curve is a marginal cost curve.

• A) Only iii
• B) Only i
• C) Only ii
• D) i and ii
• E) i and iii

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Definitions:

Secondary Education

The stage of education following primary education, usually provided for teenagers and focused on preparing students for higher education, vocational education, or employment.

Working Class

A social group consisting of people employed in lower tier jobs, often involving manual labor, and who typically possess less economic power and educational attainment compared to the middle and upper classes.

Crimes Against

Refers to actions that are against the law and often involve harm to individuals or society.