Marginal cost refers to the ________ cost incurred when choosing a particular action

The value of leisure time is

A) included in GDP and, in recent years, has become an increasing large part of GDP. B) excluded from GDP. C) zero. D) directly included in GDP but, in recent years, has become a decreasing large part of GDP. E) directly included in GDP and, in recent years, has not changed much as a fraction of GDP.

What best determines the price a price taker will charge?

A) Demand B) Revenue C) Cost D) Reputation