Asked by Carzetta Allen on Jun 05, 2024
Verified
_________________________ is the increase in total cost resulting from producing one more unit of good or service.
Total Cost
The complete expenditure associated with acquiring, producing, or maintaining a product or service.
Good Or Service
Any commodity or activity that can be offered by one party to another, which is capable of satisfying a need or want.
- Understand the concept of marginal cost in the production of goods and services.
Verified Answer
AP
Learning Objectives
- Understand the concept of marginal cost in the production of goods and services.