The Change in Total Cost Resulting from a One-Unit Increase

question 89

Multiple Choice

The change in total cost resulting from a one-unit increase in production is called:

• A) average fixed cost.
• B) average variable cost.
• C) marginal cost.
• D) marginal revenue.

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Definitions:

Rewards Program

A marketing strategy designed to encourage customer loyalty by offering incentives, such as points, gifts, or discounts, for frequent or sizable purchases.

Marketing Strategy

a company's plan designed to promote products or services to reach a specific target market, involving decisions on product, price, place, and promotion.

Frequent Purchases

Transactions that occur regularly over a period, often for everyday goods or services that require replenishment or constant demand.

Brand

A unique design, sign, symbol, words, or a combination of these, employed in creating an image that identifies a product and differentiates it from its competitors.