Question

Which is the first step in marginal analysis?

A) Determine what price the company wishes to charge for its products.
B) Identify fixed and variable costs for specified quantities of product.
C) Find the marginal cost of producing one additional unit of a product.
D) Calculate the marginal revenue of producing one additional unit of a product.
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Answer 1

B) Identify fixed and variable costs for specified quantities of product.

Step-by-step explanation:

I took the test and got it right :)

Answer 2

B) Identify fixed and variable costs for specified quantities of product.