In Economics,a Marginal Value Refers To

question 42

Multiple Choice

In economics,a marginal value refers to:

• A)the value associated with an unimportant,or marginal,activity.
• B)a value entered as an explanatory item in the margin of a balance sheet or other accounts.
• C)the value associated with one more unit of an activity.
• D)a value that is most appropriately identified in a footnote.

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Definitions:

Wage Rates

The amount of money paid to an employee per unit of time, such as an hour or a week, for work performed.

Time Off

Authorized absence from work granted to employees for various reasons, such as vacation, illness, or personal matters.

Overtime Work

Hours worked by employees that exceed the normal or legally mandated work hours; typically compensated at a higher pay rate.

Rate Range

The variance between the minimum and maximum pay rates established for a specific job or grade within an organization.