Marginal Cost Is

question 90

Multiple Choice

Marginal cost is:

• A) The average cost per unit
• B) The incremental cost of the next unit
• C) Not relevant for decision-making
• D) Constant even if the relevant range changes

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Definitions:

Unprepared

The state of not being ready or equipped to deal with a particular task or situation.

Classical Conditioning

An educational process which happens when a stimulus from the environment is linked to a naturally occurring stimulus.

UCS

Unconditioned Stimulus, a stimulus that naturally and automatically triggers a response without prior learning in classical conditioning.

Meat Powder

A substance used by Ivan Pavlov in his classical conditioning experiments as an unconditioned stimulus to elicit salivation in dogs.