Opposition Can Occur Where

question 55

Multiple Choice

Opposition can occur where?

• A) CM 1
• B) CM 5
• C) MP 1
• D) both A and B
• E) all of the above

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Definitions:

Implicit Costs

Implicit costs are the opportunity costs of using resources that a company already owns, representing the potential income lost by not utilizing them elsewhere.

Diseconomies of Scale

A phenomenon where an increase in production leads to higher average costs per unit due to inefficiencies, often occurring when companies become too large.

Average Total Cost

The total cost per unit of output, calculated by dividing the total cost of production by the number of units produced.

Marginal Cost Curve

A graph that shows the change in the total cost of producing one additional unit of a good or service.