The change in total cost that results from the production of one additional unit is called:
A) marginal revenue.
B) average variable cost.
C) marginal cost.
D) average total cost.

Question

Quizplus · Accepted Answer

The change in total cost that results from the production of one additional unit is known as marginal cost. Marginal revenue is the change in total revenue from producing one additional unit, while average variable cost and average total cost are measures of cost per unit, not the change in cost from producing an additional unit.

The Change in Total Cost That Results from the Production