"Marginal cost is the increase in total cost that results from a one-unit increase in a variable input." True or false? Explain
Indicate whether the statement is true or false
False. Marginal cost is the increase in total cost that results from a one-unit increase in output, not a one unit increase in an input.
You might also like to view...
Which of the following statements is consistent with the Coase theorem?
A. In the case of zero transaction costs, a property rights assignment (made by a court) will be undone if it benefits the relevant parties to undo it. B. In the case of zero transaction costs, the resource allocative outcome will be the same no matter who is assigned the property right. C. Taxes can do what property rights assignments cannot. D. The market can solve all negative externality problems. E. a and b
Among the key ingredients of what a house is fundamentally worth would be
A. the quality of the school system in which the house is located. B. the opportunity cost of the land on which the house is located. C. "location, location, location"! D. all of the options are correct.