The Cost of Making One More Unit Is Called

question 248

Multiple Choice

The cost of making one more unit is called

• A) marginal cost.
• B) unit cost.
• C) variable cost.
• D) fixed cost.

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Definitions:

2 × 2 ANOVA

A two-way analysis of variance test that involves two independent variables, each with two levels, used to determine their effect on a dependent variable.

Compounded Annually

A method of calculating interest where the interest earned each year is added to the principal, and in the next year, interest is earned on the new principal sum.

Lump Sum

A singular transaction carried out at a specific point in time, as opposed to a sequence of smaller installments.

Savings

Money set aside for future use, often accumulating interest in a financial institution.