Marginal cost is a measure of the alternative goods that society forgoes in using resources to produce an additional unit of some specific product.

Question

Quizplus · Accepted Answer

Marginal cost is the additional cost of producing one more unit of a good or service. It is a measure of the opportunity cost of production, which is the value of the resources that must be given up in order to produce the additional unit.

Marginal Cost Is a Measure of the Alternative Goods That