Marginal cost is best defined as
a. a cost that does not vary with the rate of output.
b. the difference between fixed and variable cost at any level of output.
c. the amount added to total cost when one more unit of output is produced.
d. the difference between price and average total cost at the profit-maximizing level of output.
C
Economics
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How do animal spirits affect GDP?
What will be an ideal response?
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It is impossible to figure out the "true" or "final" cost of getting an education at public schools because
A) no one has an incentive to keep accurate figures. B) an education at any public school is in most, if not all cases, a free good. C) an education is necessary. D) things in themselves have no cost.
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