Complete the following sentence. Marginal cost
A)is the opportunity cost of producing one more unit of a good or service.
B)is unrelated to the production possibilities frontier.
C)always equals marginal benefit.
D)remains constant.
E)is always greater then marginal benefit.

Question

Quizplus · Accepted Answer

Marginal cost is defined as the additional cost incurred by producing one more unit of a good or service. It is the opportunity cost of producing one more unit. It is important in decision-making as it indicates whether producing one more unit is economically efficient or not.

Complete the Following Sentence. Marginal Cost