What does marginal cost equal?
a. total output divided by the change in total cost
b. total cost divided by quantity of output produced
c. the change of total cost divided by the change of output
d. average cost divided by output
Ans: c. the change of total cost divided by the change of output
Economics
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A chief purpose of long-term contracts is to improve agents'
A) information. B) incentives. C) control over principals. D) security.
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Policies to encourage higher personal saving rates include ________
A) lowering income taxes B) lowering sales taxes C) increasing the quantity of money D) raising asset prices E) reducing interest rates
Economics