The extra cost associated with undertaking an activity is called
A)net loss.
B)marginal cost.
C)opportunity cost.
D)foregone cost.

Question

Quizplus · Accepted Answer

Marginal cost represents the extra cost associated with producing one more unit or undertaking an additional activity. Options A, C, and D represent different concepts - net loss is the difference between total revenue and total cost, opportunity cost is the cost of the next best alternative forgone, and foregone cost is the cost of not choosing an alternative.

The Extra Cost Associated with Undertaking an Activity Is Called