Question 5 The extra cost that results from carrying out one additional unit of an...
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Accounting
Question 5 The extra cost that results from carrying out one additional unit of an activity is the _____ of the activity. marginal benefit
reservation cost marginal cost opportunity cost
Question 7 The demand for a good is said to be elastic with respect to price if the absolute value of its price elasticity is ____________ than 1. A. smaller as well as greater B. greater C. smaller D. equal to and greater
Question 10 Marginal utility is defined as the: A. additional utility gained by consuming an extra unit of a good. B. total utility from all units consumed of a good. C. average utility gained by consuming an average amount of the good. D. total utility gained by consuming an extra unit of a good.
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