Marginal cost is BEST defined as
A) the profit earned from selling one more unit of output.
B) the price received from selling one more unit of output.
C) the extra cost of producing one more unit of output.
D) equal to producer surplus.

Question

Quizplus · Accepted Answer

Marginal cost refers to the additional cost incurred by producing one additional unit of a good or service. It is a concept used in economics and business to understand the cost of expanding production and is not directly related to profit, price, or producer surplus.

Marginal Cost Is BEST Defined as