Marginal Cost Is Equal to

question 3

Multiple Choice

Marginal cost is equal to

• A)the increase in total cost from increasing the amount of labor by one unit.
• B)the increase in variable cost from increasing the amount of labor by one unit.
• C)Both A and B.
• D)Neither A nor B.

---

Definitions:

Cognitive Appraisal Theory

A theory in psychology that describes the process in which an individual evaluates and interprets a situation, influencing their emotional reaction.

Maslow's Hierarchy

A theory in psychology proposed by Abraham Maslow, representing a hierarchy of human needs, from basic physiological needs to self-actualization.

Drive-Reduction Theory

A theory suggesting that the motivation of behavior arises from biological needs that drive an individual to act in ways that reduce these drives.

Cognitive Developmental Theory

A theory in psychology that explains how children acquire the ability to think, learn, and reason as they grow.