Marginal cost is:
A) the increase in total cost resulting from producing one more unit of a good
B) always equal to average cost
C) the average cost of production divided by output
D) the increase in fixed cost resulting from producing one more unit of a good
Correct Answer:
Verified
Q1: According to the law of diminishing marginal
Q3: A firm will shut down in the
Q4: Diminishing marginal returns relates to the:
A) rate
Q5: If a profit- maximising firm is producing
Q6: If a firm is experiencing diseconomies of
Q7: Which of the following is most likely
Q8: In the long run, a firm will
Q9: If a firm's demand curve is negatively
Q10: Once the profit- maximising level of output
Q11: A firm may be unable to maximise
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