The extra cost associated with producing or consuming the next unit is called the:

Name: The extra cost associated with producing or consuming the next unit is called the:
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Marginal cost refers to the additional cost incurred in producing or consuming the next unit of a good or service. It is important to consider marginal cost because it helps businesses make decisions about how much they should produce or how much they should charge for a product.

The Extra Cost Associated with Producing or Consuming the Next