Marginal Costs Are Defined as

question 306

Multiple Choice

Marginal costs are defined as

• A) the change in total costs due to a one-unit change in production.
• B) costs that are viewed as marginal; of little or small importance.
• C) costs that represent a change, but one that cannot be measured correctly.
• D) the change in the decisions that are made by households and firms.

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Definitions:

Directing

The management process of guiding and overseeing the work of employees to meet organizational objectives.

Human Resources

The department within an organization that focuses on the recruitment, management, and direction of people who work in it.

Quality Control

Procedures and standards implemented to ensure that products or services meet specific requirements and are of consistent quality.

Cost Element

A component that categorizes costs according to their nature, involved in the cost accounting process to allocate expenses accurately.