Asked by Ashton Williams on Sep 23, 2024
Marginal cost is ____________.
A) The cost of producing an additional unit of output
B)
The total cost of production
C)
The revenue from selling an additional unit of output
D) none of the above
Marginal Cost
The expense involved in making an extra unit of a good or service.
Additional Unit
Refers to one more unit of something, often used in the context of production, sales, or inventory.
- Understand the significance of marginal cost in enhancing the optimization of economic activity.
Learning Objectives
- Understand the significance of marginal cost in enhancing the optimization of economic activity.