Asked by
Kayla Hensley
on Dec 11, 2024
Verified
Marginal cost is defined as the increase in total cost resulting from an increase in
A) one unit of output.
B) output of 100 units.
C) a firm's plant size.
D) one unit of labor.
Output
The total amount of goods or services produced by a company, industry, or economy within a specified period.
- Comprehend the definitions and calculations of marginal cost (MC) and average total cost (ATC).
Verified Answer
KB
Learning Objectives
- Comprehend the definitions and calculations of marginal cost (MC) and average total cost (ATC).