Marginal Cost Equals

question 28

Multiple Choice

Marginal cost equals:

• A) average variable cost at its maximum point.
• B) the change in total fixed cost divided by the change in quantity.
• C) the change in total variable cost divided by the change in quantity.
• D) total cost divided by quantity.

---

Definitions:

World's Population

The total number of people currently living on Earth.

World's Output

The total production of goods and services by all countries and economies worldwide over a specified period of time.

Poorest 20 Percent

The segment of the population with the lowest income, representing the bottom quintile in the distribution of income or wealth.

World Income

The total income generated by individuals and entities across the globe.