The Additional Cost to a Firm of Producing One More

question 50

Multiple Choice

The additional cost to a firm of producing one more unit of a good or service is the

• A)minimum cost.
• B)total cost.
• C)opportunity cost.
• D)marginal cost.

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Definitions:

Fundamental Attribution Error

The tendency to overestimate the influence of personality and underestimate the influence of situational factors when explaining other people's behavior.

Prevalent

Widespread in a particular area at a specific time.

Countries

Distinct territorial bodies or political entities recognized as independent nations, often defined by geographical boundaries and governmental sovereignty.

Role

The behavior expected of an individual in a certain position or social context.