The additional cost resulting from a small increase in some activity is called the
A) marginal cost. B) diminishing returns of the activity.
C) opportunity cost. D) marginal benefit.
A
Economics
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All of the following are assumptions of monopolistic competition EXCEPT
A) many buyers and sellers. B) homogeneous product. C) easy entry of new firms in the long run. D) profit-maximizing behavior.
Economics
Movement along an indifference curve causes the loss in marginal utility (MU) of one good to ____ the marginal utility (MU) gained from another good
a. exceed b. reduce c. equal d. maximize
Economics