Marginal cost equals (i)
Change in total cost divided by change in quantity produced.(ii)
Change in variable cost divided by change in quantity produced.(iii)
The average fixed cost of the current unit.
A)(i) and (ii) only
B)(ii) and (iii) only
C)(i) only
D)(i), (ii), and (iii)

Question

Quizplus · Accepted Answer

Marginal cost is defined as the change in total cost or change in variable cost divided by the change in quantity produced. Average fixed cost is not related to marginal cost.

Marginal Cost Equals (I)