Author Question: Marginal cost is best defined as A) the extra cost of producing one more unit of output. B) the ... (Read 103 times)

bio_gurl · **on:** Jun 29, 2018

Marginal cost is best defined as

A) the extra cost of producing one more unit of output.
B) the profit earned from selling one more unit of output.
C) the price received from selling one more unit of output.
D) equal to producer surplus.

Question 2

A tariff imposed by the United States on Japanese cars ________ the price of cars in the United States and ________ the quantity of Japanese cars imported into the United States.

A) raises; increases
B) raises; decreases
C) lowers; increases
D) lowers; decreases