Asked by Kaylee Greydanus on Jul 22, 2024
Verified
________ is the cost of using resources to produce another unit of a good.
A) Marginal revenue
B) Marginal cost
C) Price
D) Total cost
Marginal Revenue
The increment in revenue resulting from the sale of an additional unit of output in a market.
Marginal Cost
The expense incurred from manufacturing an additional unit of a product.
- Comprehend the contributions of marginal cost and consumer surplus to the effective production and consumption decisions of commodities.
Verified Answer
EM
Enmanuel MorilloJul 26, 2024
Final Answer :
B
Explanation :
Marginal cost is defined as the cost of producing one more unit of a good, which fits the description given.
Learning Objectives
- Comprehend the contributions of marginal cost and consumer surplus to the effective production and consumption decisions of commodities.