Marginal total cost is the
A) cost of all resources divided by the quantity of resources.
B) cost of all resources divided by the quantity of output.
C) change in the cost of all resources divided by the quantity of resources.
D) change in the cost of all resources divided by the change in the quantity of resources.
E) change in the cost of all resources divided by the change in the quantity of output.
Correct Answer:
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Q1: Q2: After hiring three new employees, a manager Q3: Q5: Labor, land, and capital used in production Q7: As output rises unit by unit, costs Q8: Marginal cost (MC) is equal to average Q9: Average total cost is the Q10: Total cost is the cost of Q11: Economic goods and services produced by business Q32: The below figure shows the various combinations
A) cost of
A) land
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