Which of the Following Statements Is Correct

question 352

Multiple Choice

Which of the following statements is correct?

• A)Average total cost is the difference between average variable cost and average fixed cost.
• B)Marginal cost measures the cost per unit of output associated with any level of production.
• C)When marginal product rises, marginal cost must also rise.
• D)Marginal cost is the price or cost of an extra variable input (for example, an additional worker or machine)divided by its marginal product.

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Definitions:

Transitional Phrases

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A visual representation or artwork created to explain, clarify, or adorn textual information.

Transition

A word, phrase, or passage that links one subject or idea to another in speech or writing, ensuring smooth flow.

Cause-Effect

A relationship in which one event (the cause) makes another event happen (the effect).