What is the term for the change in total cost resulting from a one-unit increase in production?
A) average fixed cost
B) average opportunity cost
C) average variable cost
D) marginal cost

Question

Quizplus · Accepted Answer

The term for the change in total cost resulting from a one-unit increase in production is known as marginal cost. Marginal cost can be calculated by dividing the change in total cost by the change in quantity produced. It is an important concept in economics as it helps firms determine the optimal level of production that will maximize profits.

What Is the Term for the Change in Total Cost