change in total cost that results from producing and marketing one additional unit of product is referred to as
A) fixed cost.
B) total cost.
C) marginal cost.
D) variable cost.
E) unit cost.

Question

Quizplus · Accepted Answer

The change in total cost that results from producing and marketing one additional unit of product is referred to as marginal cost. Marginal cost is an important concept in economics and business decision-making, as it helps firms to determine the optimal level of production and pricing strategies. Fixed cost and variable cost refer to the two main components of total cost, while unit cost is the total cost divided by the number of units produced, and is not specific to the marginal increase in production.

Change in Total Cost That Results from Producing and Marketing