« previous next »

Author Question: Marginal cost is the increase in total cost that results from a one-unit increase in a variable ... (Read 75 times)

futuristic

  • Hero Member
  • *****
  • Posts: 638
on: Jun 29, 2018
Marginal cost is the increase in total cost that results from a one-unit increase in a variable input. True or false? Explain.
 
  Indicate whether the statement is true or false

Question 2

What is the Gini ratio?
 
  What will be an ideal response?


kescobar@64

  • Sr. Member
  • ****
  • Posts: 324
Reply #1 on: Jun 29, 2018
Answer to Question 1

False. Marginal cost is the increase in total cost that results from a one-unit increase in output, not a one unit increase in an input.

Answer to Question 2

The Gini ratio is based on the Lorenz curve and equals the ratio of the area between the line of equality and the Lorenz curve to the entire area beneath the line of equality.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

People about to have surgery must tell their health care providers about all supplements they take.

Did you know?

Most strokes are caused when blood clots move to a blood vessel in the brain and block blood flow to that area. Thrombolytic therapy can be used to dissolve the clot quickly. If given within 3 hours of the first stroke symptoms, this therapy can help limit stroke damage and disability.

Did you know?

Before a vaccine is licensed in the USA, the Food and Drug Administration (FDA) reviews it for safety and effectiveness. The CDC then reviews all studies again, as well as the American Academy of Pediatrics and the American Academy of Family Physicians. Every lot of vaccine is tested before administration to the public, and the FDA regularly inspects vaccine manufacturers' facilities.

Did you know?

The Centers for Disease Control and Prevention (CDC) was originally known as the Communicable Disease Center, which was formed to fight malaria. It was originally headquartered in Atlanta, Georgia, since the Southern states faced the worst threat from malaria.

Did you know?

The cure for trichomoniasis is easy as long as the patient does not drink alcoholic beverages for 24 hours. Just a single dose of medication is needed to rid the body of the disease. However, without proper precautions, an individual may contract the disease repeatedly. In fact, most people develop trichomoniasis again within three months of their last treatment.

Mixing schematic Diagram CHE 415 unit operations experiment apparatus Mixing schematic Diagram CHE 415 unit operations experiment apparatus
A typical electric motor-driven AIR pump. This unit is on a Chevrolet Corvette and only works when ... A typical electric motor-driven AIR pump. This unit is on a Chevrolet Corvette and only works when ...
The expected results of two generations of semiconservative replication The expected results of two generations of semiconservative replication
Three mechanics worked 15 1/2, 14 3/4, 18 1/8 hours respectively. What was the total Three mechanics worked 15 1/2, 14 3/4, 18 1/8 hours respectively. What was the total
Test-Cross Results from Mendel’s Experiments Test-Cross Results from Mendel’s Experiments
Variable expressivity of Waardenburg syndrome Variable expressivity of Waardenburg syndrome
Video: Insulin (glucose uptake by body cells), glycogenesis and lipogenesis

For a complete list of videos, visit our video library