The change in total cost that results from the production of one additional unit of output is

Question:

The change in total cost that results from the production of one additional unit of output is called

a. marginal revenue.

b. average variable cost.

c. marginal cost.

d. average total cost.

e. average fixed cost.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Exploring Microeconomics

ISBN: 9781544339443

8th Edition

Authors: Robert L. Sexton

See More Books

Question Posted: May 19, 2024 03:02 AM

See More Questions

Multiple Choice Questions: 1. Total fixed costs a. Do not vary with the level of output. b. Cannot be avoided in the short run without going out of business. c. do not exist in the long run. d. Are...
CANMNMM January of this year. (a) Each item will be held in a record. Describe all the data structures that must refer to these records to implement the required functionality. Describe all the...
MARGINAL COST EQUATION The marginal cost formula is nothing but the mathematical representation to capture the incremental cost impact due to the production of additional units of a good or service....
For numbers a and b, determine which of the following expressions equals the given expression. (a) a + b (b) a b (c) b a (d) a b a + (b)
A segment of DNA containing 20 base pairs includes 7 guanine residues. How many adenine residues are in the segment? How many uracil residues are in the segment?
Given the following market conditions, calculate the expected/required rate of return using the CAPM: kRF=6%, kM=14% What is ki for of a security with kA=16.4%? 1.25 1.30 1.35
Which of the following affects the present value of an investment? a. the interest rate b. the number of time periods (length of the investment) c. the type of investment (annuity versus single lump...
Invigor Corporation is an international manufacturer of fragrances for women. Management at Invigor is considering expanding the product line to mens fragrances. From the best estimates of the...
Student Name Student Number 7 . During September, the capital expenditure budget indicates a $ 1 4 0 , 0 0 0 purchase of equipment for cash. The ending September cash balance from operations is...
Which short-run curve typically declines continuously as output expands? a. Average variable cost b. Average total cost c. Average fixed cost d. Marginal cost e. None of the above
Which of the following is most likely a variable cost for a business? a. The loan payment on funds borrowed when a new building is constructed b. Payments for electricity c. The lease payment on a...
Suppose that a plane P with normal vector n and a line L with direction vector v both pass through the origin and that n v = 0. Which of the following statements is correct? (a) L is contained in P....
Elvis, Lennon and McCartney are in partnership together and they share profits and losses equally. At the time of McCartney's retirement the capital balances were as follows: Required: Elvis $50 000...
What is the difference between an image transformation and an image calibration (In Cognex What do each of them accomplish?
Please explain activity based costing, target costing, life cycle costing and total quality management as alternative cost management techniques.
Moran owns a building he bought during year 0 for $231,000. He sold the building in year 6. During the time he held the building, he depreciated it by $35,750. What are the amount and character of...
Discuss the trade-offs between horizontal and vertical scaling strategies in the context of database scalability and resource utilization.
Hoi Chong Transport, Ltd; operates a fleet of delivery trucks in Singapore. The company has determined that if a truck is driven 105,000 kilometers during a year, the average operating cost is 11.4...
Record the following selected transactions for March in a two-column journal, identifying each entry by letter: (a) Received $10,000 from Shirley Knowles, owner. (b) Purchased equipment for $35,000,...
A manufacturer planned to use $ 1 0 1 of materials per unit produced, but in the most recent period it actually used $ 9 9 of material per unit produced. During this same period, the company planned...
Question 1 2 5 MARKS Ndlovu Industries developed the following income statement using a contribution margin approach: NDLOVU INDUSTRIES PROJECTED INCOME STATEMENT FOR THE CURRENT YEAR ENDING DECEMBER...
Lori Ramos operates a small retail kiosk in a mall located in Vancouver, British Columbia. She has opted to use the quick method for preparing her GST returns. Her financial results for her latest...

The change in total cost that results from the production of one additional unit of output is

Question:

Step by Step Answer:

Exploring Microeconomics

Students also viewed these Business questions