Marginal Cost Is Defined as the Increase in Total Cost

question 121

Multiple Choice

Marginal cost is defined as the increase in total cost resulting from an increase in

• A) one unit of output.
• B) output of 100 units.
• C) a firm's plant size.
• D) one unit of labor.

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Definitions:

Simplification (Simp)

The process of making something less complicated or easier to understand.

Disjunctive Addition (Add)

A rule in propositional logic that allows the introduction of an additional disjunct to an existing disjunction.

Double Negation (DN)

A rule of equivalence in propositional logic permitting the following substitution: p :: ~~p.

Modus Ponens (MP)

A valid argument form in logic where, if 'P implies Q' is true and 'P' is true, then 'Q' must also be true.