Which of the Following Variables Do You Need to Know

question 215

Multiple Choice

Which of the following variables do you need to know to calculate marginal cost?
i.change in total cost
ii.marginal product of labor
iii.change in quantity of labor used
iv.change in output

• A) i and ii
• B) i and iv
• C) ii and iv
• D) i, iii, and iv
• E) Only ii

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Definitions:

Present Value

The present amount of a future sum of money or sequence of cash flows, discounted by a chosen rate of return.

No Money Down

A financing or purchase arrangement in which the buyer is not required to make any upfront payment at the time of purchase.

Weekly Payments

Regular payments made on a weekly basis, often used in terms of loan repayment schedules or employment salaries.

Stated Rate

The annual interest rate declared on a financial instrument, such as a bond, without accounting for compounding within the year.