General Studies · Managerial Economics
Match List I with List II: LIST I (Production Cost) LIST II (Underlying Meaning) A. Implicit Costs I. Change in the total cost per unit change in output. B. Marginal cost II. Total increase in costs resulting from the implementation of a particular managerial decision. C. Incremental Cost III. Imputed value of inputs owned and used by the firm. D. Sunk Cost IV. The costs that are not affected by managerial decision. Choose the correct answer from the options given below:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1A - III, B - II, C - IV, D - I
- 2A - IV, B - III, C - II, D - I
- 3A - III, B - I, C - II, D - IV✓
- 4A - II, B - I, C - IV, D - III
Correct answer
A - III, B - I, C - II, D - IV
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