Marginal Cost

question 91

Multiple Choice

Marginal cost

• A) is the difference between total cost and total fixed cost.
• B) increases as the marginal product of labor increases.
• C) decreases as the average product of labor increases.
• D) is the change in total cost arising from a one-unit increase in output.
• E) equals the change in variable cost divided by the change in fixed cost when output increases by one unit.

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Definitions:

Relevant Technology

Technology that is applicable and pertinent to a specific topic, issue, or area of interest.

SWOT Model

A strategic planning tool that identifies and analyzes the Strengths, Weaknesses, Opportunities, and Threats of an organization, project, or personal venture.

Threats

Expressions of intent to cause harm or difficulty to someone or something.

Profitability

The state or condition of yielding a financial profit or gain.