What is the term for the additional cost incurred as a result of undertaking an action?
A) the total cost
B) the gross cost
C) the marginal cost
D) the marginal benefit

Question

Quizplus · Accepted Answer

The additional cost incurred as a result of undertaking an action is known as the marginal cost. This refers to the change in total cost that results from producing one additional unit of output. Option A and B are incorrect because total cost and gross cost do not specifically refer to additional costs. Option D refers to the additional benefit received from producing one more unit of output, which is distinct from the additional cost incurred.

What Is the Term for the Additional Cost Incurred as a Result