Select “Complete” If the Sentence Is Complete or “Fragment” If

question 65

Multiple Choice

Select “complete” if the sentence is complete or “fragment” if the sentence is a fragment.
-I quit! _____

• A) complete
• B) fragment

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Definitions:

MC

Stands for Marginal Cost, which is the cost incurred by producing one additional unit of a good or service.

Output

The quantity of goods or services produced within a given time period by a firm, sector, or economy.

U-Shaped Marginal Cost

A graphical representation of the cost incurred to produce one more unit of a good, which decreases at first due to increasing returns but eventually increases due to decreasing returns.

Profit-Maximizing Output

The quantity of output at which a firm achieves the maximum possible profit, determined where marginal revenue equals marginal cost.