Marginal cost is the change in
A)total cost that results from a change in output.
B)total revenue that results from a change in output.
C)fixed cost that results from a change in output.
D)a and b
E)all of the above

Question

Quizplus · Accepted Answer

Marginal cost specifically refers to the change in total cost that results from producing one additional unit of a good or service. It does not relate to changes in total revenue or fixed costs, which do not vary with the level of output.

Marginal Cost Is the Change in