Marginal Cost Tells Us the

question 579

Multiple Choice

Marginal cost tells us the

• A)value of all resources used in a production process.
• B)marginal increment to profitability when price is constant.
• C)amount by which total cost rises when output is increased by one unit.
• D)amount by which output rises when labor is increased by one unit.

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Definitions:

Not-for-profit Organisation

An entity that operates for purposes other than making a profit, focusing instead on social, educational, charitable, or other community-oriented goals.

Red Tape

Excessive bureaucracy or adherence to formal rules and regulations that can delay or complicate processes and decision-making.

Bureaucratic Organisation

A type of organizational structure that operates under a fixed set of rules and procedures, often with a hierarchical system of administration.

Quantitative Approaches

Methods that focus on obtaining and analyzing numerical data for the purpose of making decisions or understanding patterns.