Marginal Cost Is the

question 213

Multiple Choice

Marginal cost is the

• A) change in average cost when an additional unit of output is produced.
• B) the additional output when total cost is increased by one dollar.
• C) additional cost of producing an additional unit of output.
• D) change in the price of inputs if a firm buys more inputs to produce an additional unit of output.

---

Definitions:

Flying Car

A type of vehicle that can function both as a standard road vehicle and an aircraft, offering a personal air travel option.

Ultimate Consumers

The end-users who purchase and use products and services for their personal use, as opposed to buying them for resale or production.

Organizational Buyers

Refers to entities such as businesses, governments, and institutions that purchase goods or services for use in the production of other goods and services, for resale, or for general business operations.

Innate Sense

A natural or instinctive ability or understanding, often referred to in the context of intuition or inherent skills.