The Change in Total Cost Resulting from a One-Unit Increase

question 32

Multiple Choice

The change in total cost resulting from a one-unit increase in production is called:

• A)total fixed cost
• B)average variable cost.
• C)marginal cost.
• D)external cost.
• E)social cost.

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Definitions:

Sociable

Refers to being inclined to seek out and enjoy the company of others, characterized by a friendly, outgoing, and engaging personality.

Extraversion

A personality trait characterized by outgoingness, high energy, and positive emotions towards social situations and interactions.

Avoids Mistakes

The act of preventing errors through careful planning, foresight, and taking corrective measures.

Conscientiousness

A personality trait marked by organization, dependability, and a strong sense of duty.