Marginal cost is the increase in total ________ that results from a one-unit increase in ________
A) fixed cost; the fixed input
B) cost; output
C) variable cost; the variable input
D) fixed cost; output
B
Economics
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Game theory may be used to solve problems of interdependent decision making by large firms
a. True b. False Indicate whether the statement is true or false
Economics
Opportunity costs differ among nations primarily because
a. nations employ different currencies. b. nations have different amounts of land, labor skills, capital, and technology. c. nations have different religious, political, and economic institutions. d. the work-leisure preferences of people vary considerably from one nation to another.
Economics