Practice question

MCQ

Question

Consider the following statements regarding the cost and revenue of a company. Which of the following statement is/are correct?

Options

Choose one · Correct answer highlighted

The production cost of a company is a sum of fixed cost and variable cost The total revenue of the company is the product for a unit price and the number of units produced by it. Marginal cost and marginal revenue are the instantaneous rates of change of cost and revenue with respect to output. All the above Correct

Explanation

We can see that using formula we get All the above. Calculation gives this directly, check steps: apply rule, substitute values, simplify to get All the above.

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