Marginal cost is the ____________ cost of producing one additional unit and marginal revenue is the_____________ revenue of selling an additional unit
a. Incremental, Incremental
b. Total, Incremental
c. Incremental, Total
d. Total, Total
a
Economics
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Hyundai is a large South Korean company that produces finished steel products. Hyundai plans to buy raw steel from U.S. Steel. As a result, the
A) demand curve for U.S. Dollars shifts rightward. B) demand curve for U.S. Dollars shifts leftward. C) demand curve for South Korean Won shifts rightward. D) demand curve for South Korean Won shifts leftward.
Economics
When the price of a good falls, consumers buy a larger quantity because of the ________ effect and the ________ effect
A) normal; inferior B) substitution; income C) substitute; complement D) supply; demand
Economics