Incremental cost is the additional cost that a firm will incur if it undertakes one more activity, or if it takes one course of action rather than another.
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Q12: Historical costs are those costs of production
Q13: Marginal cost must be equal to average
Q14: Fixed costs are costs that do not
Q15: The social costs of firm are any
Q16: When marginal cost is greater than average
Q18: Long-run average cost is equal to long-run
Q19: Long-run total cost is the minimum economic
Q20: Semi-variable costs are costs that are fixed
Q21: Short-run marginal cost is the rate of
Q22: If the marginal product of a variable
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