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4 July, 08:04

Marginal costs exist because: A. the decision to engage in one activity means forgoing some other activity. B. wants are scarce relative to resources. C. households and businesses make rational decisions. D. most decisions do not involve sacrifices or tradeoffs. Review

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  1. 4 July, 08:08
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    A. the decision to engage in one activity means forgoing some other activity

    Explanation:

    The marginal cost is the cost associated with producing an extra unit of output. It is the differnece in total cost at output k and output k+1

    The reason behind cost are that using the input (labor, capital and material) to produce a certain good made them unable to use in other activities.
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