Question 3 Which of the following refers to the price of producing one more unit of the output? Select one A. Average cost B. Marginal cost C. Labor cost D. Overhead cost
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Step 1: The marginal cost is the change in total cost that comes from producing one additional unit. Show more…
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Marginal costs facing any firm considering a change in output represent: a. extraordinary overtime charges that must sometimes be paid to increase output. b. the cost incurred even if the firm produces zero output. c. the difference between the total cost actually incurred to produce any given output and the smallest possible total cost of producing that output. d. the increase in total cost that accrues from a 1-unit increase in quantity produced. e. the increase in total cost that accrues from any increase in quantity produced, whether 1 unit or more
Azat N.
'The marginal cost is interpreted as Select one: a. The cost of producing one additional unit: b The revenue from selling one additional unit: C. The profit fiom selling one additional unit: d. The variable cost per unit.'
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
Haricharan G.
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