Total cost for a person consuming a good or service is the:
A) cost of the alternative forgone.
B) cost per unit of the good or service consumed.
C) cost of consuming a given amount of the good or service.
D) change in cost from consuming an additional unit of the good or service.

Question

Quizplus · Accepted Answer

Total cost for a person consuming a good or service refers to the cost of consuming a given amount of the good or service, which encompasses all units consumed up to that point, not just the cost per unit or the cost of additional units.

Total Cost for a Person Consuming a Good or Service