The addition to total costs associated with the production of one more unit of output is referred to as
A) average cost.
B) marginal cost.
C) opportunity cost.
D) overhead cost.
Answer: B
Economics
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a. it is the target rate for govts b. it assumes that there will always be cyclical and frictional unemployment c. it occurs when cyclical unemployment=5% d. all
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Starting from long-run equilibrium, an increase in autonomous consumption results in ________ output in the short run and ________ output in the long run.
A. higher; higher B. higher; potential C. lower; higher D. lower; potential
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