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Marginal Cost Is? - Erudites Academy

Categories: Economics JAMB

Marginal cost is?

A. the lowest cost of producing goods
B. the cost of production of the most efficient firm in an industry
C. the cost of production of the most inefficient firm in an industry
D. the cost of production of the last or extra unit of goods produced by a firm

Correct Answer:

Option D – the cost of production of the last or extra unit of goods produced by a firm

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2 years ago