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. |
Inputed 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:
1
A - III, B - II, C - IV, D - I
2
A - IV, B - III, C - II, D - I
3
A - III, B - I, C - II, D - IV
4
A - II, B - I, C - IV, D - III