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The cost of producing an additional unit of output is the firm's? a. Marginal cost. b. Average...

Question:

The cost of producing an additional unit of output is the firm's?

a. Marginal cost.

b. Average total cost.

c. Variable cost.

d. Average variable cost.

Measuring Costs In Economics:

In receiving a benefit or return, the person will exchange or give up something. Costs are measured to make a proper evaluation. It is used in the computation of marginal cost, average total cost and average variable costs. Examples of costs are opportunity costs and payment to acquire a product.

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  • Answer: a. Marginal cost.

The marginal cost is the difference between the total cost of producing the previous units and the last units. The formula...

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Marginal Cost: Definition, Equation & Formula

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Chapter 3 / Lesson 12
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What is marginal cost? Learn how to calculate marginal cost with the marginal cost formula. See the definition, behavior, and marginal cost examples.


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