Marginal Cost Is

question 14

Multiple Choice

Marginal cost is

• A)the change in total cost that results from hiring one more unit of labor.
• B)total cost divided by total output.
• C)the change in total variable cost that results from hiring one more unit of capital.
• D)the change in total cost that results from hiring one more unit of capital.
• E)the change in total cost that results from increasing output by one unit.

---

Definitions:

Statement of Financial Position

A financial report detailing a company's assets, liabilities, and equity at a specific point in time, commonly known as a balance sheet.

Dishonoured Note

A promissory note that has not been paid by the issuer at its maturity date.

Accounts Receivable

This refers to the money owed to a company by its customers for goods or services already delivered or performed but not yet paid for.

Unpaid Interest

Interest on a loan or debt that has accrued but has not yet been paid by the borrower.