In 2008, in the United States, Total Logistical Cost Is

question 89

True/False

In 2008, in the United States, total logistical cost is estimated to be about 20 percent of the country's GDP.

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Definitions:

Marginal Costs

The increase in total cost that arises from producing one additional unit of a good or service.

Marginal Benefits

The additional satisfaction or utility a consumer receives from consuming one more unit of a good or service.

Net Benefit

The total benefits of a decision or action minus the total costs associated with that decision or action.

Marginal Cost

The expense associated with manufacturing an extra unit of a product.