The cost associated with hiring one more unit of labor is
A) absolute cost.
B) economic cost.
C) opportunity cost.
D) capital cost.
E) marginal cost.

Name: The cost associated with hiring one more unit of labor is A) absolute cost. B) economic cost. C) opportunity cost. D) capital cost. E) marginal cost.
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Question

Quizplus · Accepted Answer

The cost associated with hiring one more unit of labor is referred to as marginal cost, which is the cost of producing one additional unit of a good or service, including labor.

The Cost Associated with Hiring One More Unit of Labor