Marginal Factor Cost Is the Change in Total Cost Divided

question 175

True/False

Marginal factor cost is the change in total cost divided by the change in the quantity of the product.

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Definitions:

Chromosomes

Cellular components that hold DNA and transmit genetic data.

Species

A species is a group of living organisms consisting of similar individuals capable of exchanging genes or interbreeding, forming a reproductive group.

Punctuated Equilibrium

The idea that evolution proceeds with periods of little or no genetic change, followed by very active phases, so that major adaptations or clusters of adaptations appear suddenly in the fossil record. Compare with phyletic gradualism.

Gradualism

A concept in evolutionary biology that suggests changes occur slowly and incrementally over long periods of time.