EBK MANAGERIAL ECONOMICS
4th Edition
ISBN: 9781305483170
Author: FROEB
Publisher: YUZU
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Question
Chapter 4, Problem 1MC
To determine
The meaning of the term ‘marginal’ in economics.
Expert Solution & Answer
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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Chapter 4 Solutions
EBK MANAGERIAL ECONOMICS
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