EBK MANAGERIAL ECONOMICS
EBK MANAGERIAL ECONOMICS
4th Edition
ISBN: 8220100546624
Author: FROEB
Publisher: YUZU
Question
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Chapter 4, Problem 1MC
To determine

The meaning of the term ‘marginal’ in economics.

Expert Solution & Answer
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Explanation of Solution

Option (c)

In economics, the term ‘marginal’ refers to an additional cost, revenue, benefit, or return created from producing each additional unit. Therefore, ‘marginal’ represents an increment in something by producing an additional unit of output. Thus, option (c) is correct.

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