Marginal cost is ____________.
a. The revenue from selling an additional unit of output
b. none of the above
c. The total cost of production
d. The cost of producing an additional unit of output
Question 2
A local restaurant increases the prices on its burgers as soon as it begins a promotional campaign. Which of the following is most likely to be true?
a. The promotional campaign featured how much better their burgers are
b. The promotional campaign focused on the value per dollar
c. The promotional campaign made demand more elastic
d. All of the above
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