« previous next »

Author Question: Marginal cost is the increase in total cost that results from a one-unit increase in a variable ... (Read 62 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?

The first war in which wide-scale use of anesthetics occurred was the Civil War, and 80% of all wounds were in the extremities.

Did you know?

To maintain good kidney function, you should drink at least 3 quarts of water daily. Water dilutes urine and helps prevent concentrations of salts and minerals that can lead to kidney stone formation. Chronic dehydration is a major contributor to the development of kidney stones.

Did you know?

Hip fractures are the most serious consequences of osteoporosis. The incidence of hip fractures increases with each decade among patients in their 60s to patients in their 90s for both women and men of all populations. Men and women older than 80 years of age show the highest incidence of hip fractures.

Did you know?

Children with strabismus (crossed eyes) can be treated. They are not able to outgrow this condition on their own, but with help, it can be more easily corrected at a younger age. It is important for infants to have eye examinations as early as possible in their development and then another at age 2 years.

Did you know?

The human body's pharmacokinetics are quite varied. Our hair holds onto drugs longer than our urine, blood, or saliva. For example, alcohol can be detected in the hair for up to 90 days after it was consumed. The same is true for marijuana, cocaine, ecstasy, heroin, methamphetamine, and nicotine.

The organization of mRNA as a translational unit The organization of mRNA as a translational unit
The reflection nebula NGC 1999 is brilliantly illuminated by V380 Orionis (center), a variable star The reflection nebula NGC 1999 is brilliantly illuminated by V380 Orionis (center), a variable star
(a) Initial mtDNA results suggested modern humans and Neadertals were equally distantly related to D (a) Initial mtDNA results suggested modern humans and Neadertals were equally distantly related to D
Cyanosis as shown here at the patient’s fingertips results from a lack of oxygen in the tissues Cyanosis as shown here at the patient’s fingertips results from a lack of oxygen in the tissues
Modern machinery has helped farmers increase yields Modern machinery has helped farmers increase yields
Video: Muscle Twitch and Muscle Tension - Motor unit size and force

For a complete list of videos, visit our video library