A firm's marginal cost is the increase in its total cost divided by the increase in its
A) quantity of labor.
B) average cost.
C) output.
D) average revenue.

Name: A firm's marginal cost is the increase in its total cost divided by the increase in its A) quantity of labor. B) average cost. C) output. D) average revenue.
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Question

Quizplus · Accepted Answer

Marginal cost is defined as the change in total cost that arises when the quantity produced changes by one unit, which is the increase in output.

A Firm's Marginal Cost Is the Increase in Its Total