Marginal cost is the opportunity cost

Name: Marginal cost is the opportunity cost
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Marginal cost is the additional cost incurred from producing one more unit of a good or service. It is the cost of the resources needed to produce that additional unit. It includes both explicit costs (such as wages, materials, and rent) and implicit costs (such as the opportunity cost of the resources used in production). Therefore, option C is the correct choice.

Marginal Cost Is the Opportunity Cost