Marginal cost is defined as
A) total cost divided by the level of output
B) the addition to total fixed cost of an additional unit of output
C) the addition to total cost of an additional unit of output
D) explicit cost plus implicit cost

Question

Quizplus · Accepted Answer

Marginal cost is the cost of producing one more unit of a good or service, which is precisely the addition to total cost of producing an additional unit of output.

Marginal Cost Is Defined as