The Cost of Producing One Additional Unit of a Product

question 11

Multiple Choice

The cost of producing one additional unit of a product is called ________.

• A) Cost of goods sold
• B) Cost of materials
• C) Cost of services sold
• D) Cost of utilities
• E) Cost of lease

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Definitions:

Discretionary Income

The amount of an individual's income that is left for saving, investing, or spending after taxes and basic necessities have been paid.

Gross National Income Per Capita

A measure that calculates the average income earned per person in a country, taking into account all residents' incomes.

Net National Income Per Capita

An economic metric that measures the total net income of a nation divided by its population, indicating the average income of its citizens.

Gross Domestic Product Per Capita

A measure of a country's economic output that accounts for its number of people, reflecting the average income of a country's citizens.