The increase in total cost resulting from producing one more unit of output is called
A) marginal cost.
B) average total cost.
C) variable cost.
D) opportunity cost.

Name: The increase in total cost resulting from producing one more unit of output is called A) marginal cost. B) average total cost. C) variable cost. D) opportunity cost.
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Question

Quizplus · Accepted Answer

Marginal cost is defined as the increase in total cost that arises from an extra unit of production. It is the cost of producing one more unit of a good.

The Increase in Total Cost Resulting from Producing One More