The additional cost to a firm of producing one more unit of a good or service is the

A) total cost. B) opportunity cost. C) marginal cost. D) minimum cost.

C

Economics

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Even though firms in competitive price-searcher markets do not produce at minimum ATC, competitive price-searcher markets may still be consistent with economic efficiency because

a. strict government regulations force the firms in these markets to keep their costs low. b. they provide consumers with a greater diversity of products. c. they encourage more advertising in both price-searcher and price-taker markets. d. special legal protections for price searchers make it possible for them to more efficiently use resources.

Economics

Shoeleather costs and menu costs are both costs of anticipated inflation

a. True b. False Indicate whether the statement is true or false

Economics