« previous next »

Author Question: Marginal cost is the increase in total cost that results from a one-unit increase in a variable ... (Read 129 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?

Serum cholesterol testing in adults is recommended every 1 to 5 years. People with diabetes and a family history of high cholesterol should be tested even more frequently.

Did you know?

There are approximately 3 million unintended pregnancies in the United States each year.

Did you know?

According to research, pregnant women tend to eat more if carrying a baby boy. Male fetuses may secrete a chemical that stimulates their mothers to step up her energy intake.

Did you know?

The first oral chemotherapy drug for colon cancer was approved by FDA in 2001.

Did you know?

There used to be a metric calendar, as well as metric clocks. The metric calendar, or "French Republican Calendar" divided the year into 12 months, but each month was divided into three 10-day weeks. Each day had 10 decimal hours. Each hour had 100 decimal minutes. Due to lack of popularity, the metric clocks and calendars were ended in 1795, three years after they had been first marketed.

A high-performance aftermarket air filter often can increase airflow into the engine for more ... A high-performance aftermarket air filter often can increase airflow into the engine for more ...
How Mendel’s theory accounts for the results of his experiment on the inheritance of seed color in ... How Mendel’s theory accounts for the results of his experiment on the inheritance of seed color in ...
Greenhouse gases increase in the stratosphere Greenhouse gases increase in the stratosphere
The immune response results from activation of the humoral and cell-mediated immune systems The immune response results from activation of the humoral and cell-mediated immune systems
Which of the following unit factors is not related to a 0.100 M NaBr solution? A Which of the following unit factors is not related to a 0.100 M NaBr solution? A
Jason Isbell and the 400 Unit - If We Were Vampires Jason Isbell and the 400 Unit - If We Were Vampires
Video: Red alga life cycle Animation

For a complete list of videos, visit our video library