Marginal cost is
A. all the costs of production of goods.
B. all the costs of the fixed inputs.
C. the change in the total cost resulting from a one-unit change in output.
D. all the costs that vary with output.
Marginal cost is equal to marginal revenue at the point where a firm's profit maximizes. A firm in perfect competition has its supply curve equal to marginal cost at each point above its variable cost.
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fromChapter 3 / Lesson 12
What is marginal cost? Learn how to calculate marginal cost with the marginal cost formula. See the definition, behavior, and marginal cost examples.