Asked by
Rashmi Sangwan
on Dec 08, 2024
Verified
One formula for ________ is ΔTVC/Δq.
A) AVC
B) TFC
C) ATC
D) MC
ΔTVC/Δq
ΔTVC/Δq represents the change in Total Variable Cost (TVC) resulting from producing one additional unit of output, equivalent to Marginal Cost.
AVC
AVC, or Average Variable Cost, is the total variable costs divided by the quantity of output produced.
MC
Marginal Cost, the increase in total cost that arises from producing one additional unit of a product or service.
- Employ the notion of marginal costs to influence choices regarding production in businesses.
Verified Answer
SS
Learning Objectives
- Employ the notion of marginal costs to influence choices regarding production in businesses.
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