Asked by Egypt Falaah on May 28, 2024
Verified
Constant marginal costs occur when production of each individual unit costs:
A) less than the previous one.
B) more than the previous one.
C) the same as the previous one.
D) more than the next one.
Constant Marginal Costs
A situation where the cost of producing one more unit of a good or service remains unchanged regardless of the volume of production.
- Acquire an understanding of the marginal cost concept and its role in guiding production choices.
Verified Answer
ET
Elias TwerskyMay 29, 2024
Final Answer :
C
Explanation :
Constant marginal costs mean that the cost of producing each additional unit is the same as the previous one, hence option C is correct.
Learning Objectives
- Acquire an understanding of the marginal cost concept and its role in guiding production choices.
Related questions
(Table: Marginal Cost of Sweatshirts)Use Table: Marginal Cost of Sweatshirts ...
(Table: Marginal Cost of Sweatshirts)Use Table: Marginal Cost of Sweatshirts ...
A Firm Will Begin to Experience Diminishing Returns at the ...
(Table: Costs of Producing Bagels)Use Table: Cost of Producing Bagels ...
(Table: Costs of Birthday Cakes)Use Table: Costs of Birthday Cakes ...