Marginal cost
A)Is the incremental cost incurred by producing an additional unit of output.
B)Is the total cost of production.
C)Is the total fixed cost of production.
D)None of the above

Question

​Marginal cost
A)​Is the incremental cost incurred by producing an additional unit of output.
B)Is the total cost of production.
C)Is the total fixed cost of production.
D)​None of the above

Quizplus · Accepted Answer

Marginal cost is defined as the additional cost incurred by producing one additional unit of output. It is the change in total cost when one more unit of output is produced.

​Marginal Cost

Marginal Cost