1.Marginal cost can be defined as

a)Total cost divided by amount of good produced

b)Cost of producing total output

c)Increase in total cost when output is increased by one unit

d)Slope of the demand curve

2.Slope of the budget line equals

a)Opportunity Cost

b)Relative Price

c)Income

d)Production Possibility

3.Which of the following will not impact the supply curve

a)Changes to Production Technology

b)Change in price of factors of production

c)The number of suppliers

d)Income of Consumers