Marginal Cost Is Equal to

question 80

Multiple Choice

Marginal cost is equal to

• A)The change in total costs divided by the change in quantity produced.
• B)The change in fixed costs as more units are produced.
• C)Total cost divided by quantity produced.
• D)Average total cost multiplied by quantity produced.

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Definitions:

Congressional Budget Office

A federal agency within the United States that provides economic data and budget and economic analyses to Congress.

Pie Chart

A circular statistical graphic divided into slices to illustrate numerical proportions. Each slice represents a category's portion of the whole.

Administrative Branch

This term could be a misnomer for the executive branch of government, which is responsible for implementing and enforcing laws.

Economic Data

Quantitative or qualitative information that describes one or more aspects of the economic activities within a society or sector.