Marginal cost is calculated as:
A) total revenue minus total costs.
B) the change in output divided by the change in total costs.
C) the percentage change in total costs divided by the percentage change in output.
D) the change in total costs divided by the change in output.
Correct Answer:
Verified
Q42: Refer to the figure below. The
Q45: Refer to the figure below. To
Q46: Suppose 30 employee-hours can produce 50 units
Q46: One reason that variable factors of production
Q48: The table below describes the relationship
Q49: The table below describes the relationship
Q50: Refer to the figure below. To
Q51: The table below describes the relationship
Q60: According to the law of diminishing returns,
Q71: If a production process exhibits diminishing returns,
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents