In the field of economics, the additional cost associated with one more unit of something is called a(n) marginal cost.
This is further explained below.
<h3>What is
marginal cost.?</h3>
Generally, The change in the overall cost that occurs as a result of an increase in the amount produced is referred to as the marginal cost.
This is also referred to as the cost of producing an extra quantity.
In conclusion, In the study of economics, the term "marginal cost" refers to the extra expense incurred by producing one more unit of a certain product or service.
Read more about marginal cost.
brainly.com/question/7781429
#SPJ1
Settings in which development occurs, which are influenced by historical, economic, social, and cultural factors, are called <em>context.</em>
<h3>What is development?</h3>
This is the term that is used to refer to all of the processes that are able to create the growth of a person. It has to do with the growth and the progress as well as the effective changes that are known to happen in a particular society.
Hence we can conclude by saying that Settings in which development occurs, which are influenced by historical, economic, social, and cultural factors, are called context.
Read more on development here:
brainly.com/question/17019717
#SPJ1
$4, is the optimal price to charge for a block of 4 units.
Market power is the ability of a firm to influence supply, demand, or both in order to change the price of a product in the marketplace.
A corporation with significant market power has the power to control its profit margin by manipulating the market price. It may also be able to raise barriers for potential new entries into the market.
Because they may set or change the retail price of an item without giving up market share, companies with market power are frequently referred to as "price makers."
To learn more about Market power here
brainly.com/question/14927883
#SPJ4
