Which of the Following Was Not a Function Served by Craft

question 30

Multiple Choice

Which of the following was not a function served by craft guilds in North America?

• A) Supplying insurance
• B) Providing a replacement during the owner's absence
• C) Education
• D) Financial planning

---

Definitions:

Marginal Cost

A concept in economics that refers to the change in the total cost when an additional unit of a product is produced.

Average Total Cost

The total cost of production (fixed and variable costs) divided by the quantity produced, indicating the cost per unit of output.

Marginal Revenue

The additional income generated from the sale of one more unit of a good or service.

Total Revenue

The total amount of money received by a company from sales of goods or services, before any expenses are subtracted.