Marginal cost is the change in:
A) total cost resulting from a 1-unit change in a variable input.
B) total cost resulting from a 1-unit change in quantity.
C) total cost resulting from a 1-unit change in average cost.
D) average cost resulting from a 1-unit change in quantity.

Question

Quizplus · Accepted Answer

Marginal cost is defined as the change in total cost that arises when the quantity produced is incremented by one unit. It is the cost of producing one more unit of a good.

Marginal Cost Is the Change In