In the context of cost, Marginal Cost is defined as: MCQ with Answer and Explanation

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In the context of cost, Marginal Cost is defined as:

A. Change in total cost due to production of one additional unit

B. Variable cost divided by output

C. Total cost divided by output

D. Fixed cost divided by output

Answer: Option A

Solution (By JKSSB Mock Tests)

Marginal Cost (MC) is the addition to total cost when one more unit of output is produced. MC = ΔTC/ΔQ.

This question belongs to: Economy GK Economy Set 1

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D. Y = C + I + G

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Correct Answer: Option C

Explanation:
The Fisher equation is i = r + π, where i is nominal interest rate, r is real interest rate and π is inflation.

This question belongs to: Economy GK Economy Set 1

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Correct Answer: Option B

Explanation:
The National Single Window System provides a single portal for business approvals and clearances.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Third Five Year Plan' period was:

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Correct Answer: Option A

Explanation:
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This question belongs to: Economy GK Economy Set 1

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