Solved

Which of the Following Measures of Cost Is Best Described

Question 137

Multiple Choice

Which of the following measures of cost is best described as "the increase in total cost that arises from an extra unit of production?"


A) Variable cost
B) Average variable cost
C) Average total cost
D) Marginal cost

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q132: At all levels of production beyond the

Q134: Figure 13-5
Figure 13-5 </p></div><svg width=

Q138: For a construction company that builds houses,which

Q141: Table 13-5
Table 13-5 </p></div><svg width=

Q142: Figure 13-7
Figure 13-7 </p></div><svg width=

Q181: Average total cost (ATC) is calculated as

Q317: Marginal cost increases as the quantity of

Q350: If marginal cost is below average total

Q369: The marginal cost curve crosses the average

Q508: Implicit costs
A)do not require an outlay of

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents