Marginal Cost Is Defined as the Increase in Total Cost

question 95

Multiple Choice

Marginal cost is defined as the increase in total cost resulting from an increase in:

• A) one unit of output.
• B) output of 100 units.
• C) a firm's plant size.
• D) one unit of labour.

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Definitions:

Rate of GDP Growth

The annual percentage increase in a country's gross domestic product, indicating the pace at which its economy is expanding or contracting.

Unsystematic Risk

The risk associated with a specific issuer of a security, such as a company's financial condition or management decisions, distinct from market risk.

Unemployment Figures

Unemployment figures represent the statistic that measures the number of people who are actively looking for employment but unable to find work, often expressed as a percentage of the labor force.

Unsystematic Risk

The risk associated with a specific company or industry, also known as non-systematic risk or diversifiable risk.