Marginal cost is Select one: a. the change in cost caused by a change in price b. the change in cost caused by a change in output, derived by dividing the change in total cost by the change in quantity of output. c. Total cost - Total Variable cost d. none of the above
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Step 1: Marginal cost is defined as the change in cost caused by a change in output, derived by dividing the change in total cost by the change in quantity of output. Show more…
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