The Change in Total Variable Cost Which Accompanies One Extra

question 109

Multiple Choice

The change in total variable cost which accompanies one extra unit of output is

• A) the average total cost.
• B) the average variable cost.
• C) the average fixed cost.
• D) marginal cost.

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Definitions:

Seniority Rights

Entitlements or privileges that are given to employees based on their length of service or tenure with the employer, often affecting promotions, layoffs, and other job-related decisions.

Bumping Rights

Rights that allow senior employees to take the positions of less senior employees during layoffs, based on the principle of seniority.

Grievances

Complaints or disputes workers bring forward concerning violations of their rights or dissatisfaction with conditions of their employment.

Compulsory Arbitration

A legal requirement for disputes, especially labor disputes, to be settled by an impartial arbitrator whose decision is final and binding.