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Match Each Item with a Statement Below

question 28

Multiple Choice

Match each item with a statement below.
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Definitions:

Marginal

Pertaining to the additional or incremental changes in costs, benefits, revenues, or other quantities, typically used in analysis of business decisions or economic policies.

Total Cost Curve

A graphical representation that shows the total cost of producing different quantities of output.

Ratio

A mathematical expression that represents the quantitative relationship between two numbers, showing how many times one value contains or is contained by the other.

Output

The total amount of goods or services produced by a firm, industry, or economy in a given period.

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