What Does Marginal Cost Tell Us

question 12

Multiple Choice

What does marginal cost tell us

• A)the value of all resources used in a production process
• B)the additional profit earned when output is increased by one unit
• C)the amount by which total cost rises when output is increased by one unit
• D)the amount by which output rises when labour is increased by one unit

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Definitions:

Puffing

In sales, puffing refers to exaggerated or hyperbolic statements about a product or service that are subjective opinions, not intended to be taken as facts.

Fraud In The Execution

A deceitful practice in legal dealings where a person is deceived into signing a document not knowing its true nature.

Civil Suit

A legal action between individuals where the plaintiff seeks compensation or remedy for a wrong or harm suffered.

Abuse Of Process

The misuse of legal procedures for ulterior purposes, often to harass or oppress another party, rather than to achieve the legitimate aims of the process.