Author Question: The marginal cost is the: a. b and c. b. change in total cost as the quantity changes by one unit. ... (Read 33 times)

genevieve1028 · **on:** Jun 30, 2018

The marginal cost is the:
a. b and c.
b. change in total cost as the quantity changes by one unit.
c. change in total variable cost as the quantity changes by one unit.
d. change in total fixed cost as the quantity changes by one unit.
e. same as the fixed cost when average fixed cost is at a minimum.

Question 2

Suppose an economy is initially in equilibrium and there is a sudden increase in oil prices. Which of the following is the most likely result?
a. Growth in real GDP
b. Price stability
c. Full employment output
d. Stagflation
e. Deflation