The Change in a Firm's Total Cost from Producing One

question 213

Multiple Choice

The change in a firm's total cost from producing one more unit of a good or service is

• A)the result of economies of scale.
• B)the definition of marginal product
• C)the definition of marginal cost.
• D)impossible to observe in large firms with many manufacturing plants.

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Definitions:

Job Enrichment

A method of motivating employees by adding variety, significance, and autonomy to their tasks, enhancing job satisfaction.

Responsibility and Challenges

Duties or tasks that require effort and provide an opportunity to overcome difficulties or obstacles.

Budget Surplus

A financial situation where revenue exceeds expenditures within a specific period, leaving excess funds available for savings or other uses.

Government Receipts

The total money received by the government from various sources, including tax revenues, fees, and fines.