The Change in a Firm's Total Cost from Producing One

question 264

Multiple Choice

The change in a firm's total cost from producing one more unit of a good or service is the firm's

• A)explicit cost of production.
• B)marginal cost of production.
• C)average cost of production.
• D)implicit cost of production.

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Definitions:

One-dimensional Arrays

An array structure that stores a sequence of elements in a linear format, where each element can be accessed via a single index.

Parameters

In programming, parameters are values or references passed to functions or methods to influence their operation.

Two-dimensional Array

An array of arrays, where each element is itself an array. It is used to represent matrix-like structures.

In Bounds

Ensures an index or value lies within a specific range or boundary to prevent errors.