Marginal Cost

question 91

Multiple Choice

Marginal cost

• A) is the difference between total cost and total fixed cost.
• B) increases as the marginal product of labor increases.
• C) decreases as the average product of labor increases.
• D) is the change in total cost arising from a one-unit increase in output.
• E) equals the change in variable cost divided by the change in fixed cost when output increases by one unit.

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Definitions:

Sexual Harassment

Unwelcome sexual advances, requests for sexual favors, or other verbal or physical harassment of a sexual nature, typically in the workplace or educational settings.

Arbitration Agreement

A contract in which parties agree to settle disputes outside of court through arbitration, a process involving a neutral third party.

Federal Law

Laws enacted by the national government of a country, which are supreme over state laws within its constitutional powers and apply to citizens and residents throughout the country.

Arbitrator's Decision

A final decision made by an arbitrator, who is a neutral third party, to resolve a dispute outside of court.