Marginal resource cost is
A) the increase in variable costs resulting from producing one more unit of output.
B) the increase in fixed costs resulting from producing one more unit of output.
C) the same as the marginal cost of the product.
D) the same as the resource price when a firm is acquiring the resource in a purely competitive market.

Question

Quizplus · Accepted Answer

Marginal resource cost is the additional cost incurred by employing one more unit of a resource. In a purely competitive market, this cost is equal to the resource price.

Marginal Resource Cost Is