Marginal Cost

question 46

Multiple Choice

Marginal cost:

• A)is the total cost of producing each unit of output
• B)is the change in total cost divided by the change in average product
• C)rises as long as marginal product continues to fall
• D)is average product divided by the change in total cost
• E)is marginal product divided by the change in total cost

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Definitions:

Sound Waves

are a form of mechanical energy that travels through a medium (air, water, solids) as vibrations, producing the sensation of hearing when they reach the ear.

Sensation

The process by which our sensory receptors and nervous system receive and represent stimulus energies from our environment.

Perception

The process by which organisms interpret and organize sensory information to understand their environment.

Receptors

Biological proteins located on cell surfaces or within cells that bind to specific molecules, triggering a response in the cell.