If a Future Cost Is the Same for More Than

question 134

Short Answer

If a future cost is the same for more than one alternative, and it has no effect on the decision is known as a(n) _____________ cost.

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Definitions:

Marginal Product

Additional output gained by employing one more unit of production.

Second Worker

The term "second worker" can refer to an additional employee hired to perform tasks, often implying the expansion of workforce due to increased workload.

Law of Diminishing Marginal Returns

A principle stating that adding an additional factor of production results in smaller increases in output after a certain point, holding other inputs constant.

Variable Input

An input used in production that can be adjusted in the short term, such as labor or raw materials.