Marginal Cost Is the Opportunity Cost of Producing

question 318

Multiple Choice

Marginal cost is the opportunity cost of producing

• A) every unit possible.
• B) zero units.
• C) the first unit and only the first unit.
• D) one more unit of a good or service.
• E) None of the above answers is correct.

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Definitions:

Centimeters

A unit of length in the metric system, equal to one hundredth of a meter.

Calories

Units of energy measurement used to quantify the amount of energy provided by foods and beverages.

Linearly

In a manner involving straight lines or in direct proportion.

Correlation

An index quantifying how two variables co-vary, showing both how strong their link is and in what manner they are related.