Marginal cost
A) Is the change in total output from hiring one more factor of production.
B) Is the change in total cost from producing one additional unit of output.
C) Falls when there are diminishing returns.
Correct Answer:
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Q25: If the marginal physical product (MPP)is falling,then
Q26: The most desirable rate of output for
Q27: Marginal cost
A)Rises as a direct result of
Q28: Average total cost is important to a
Q29: In the short run,when a firm produces
Q31: Which of the following is most likely
Q32: The shape of the marginal cost curve
Q33: In the short run,when a firm produces
Q34: Profit is
A)The difference between total cost and
Q35: Marginal cost is equal to
A)The change in
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