A. Fixed cost
B. Total cost
C. Average cost
D. Marginal cost
Correct Answer:
Option D – Marginal cost
Explanation
Marginal cost is the additional cost incurred in the production of one more unit of a good or service.
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![Five 80-W and three 100W are run for 8 hours. If the cost of energy is N5.00 per unit, calculate the cost of running the lamp. [1 unit = 1 kWh]](https://erudites.ng/wp-content/plugins/contextual-related-posts/default.png "Five 80-W and three 100W are run for 8 hours. If the cost of energy is N5.00 per unit, calculate the cost of running the lamp. [1 unit = 1 kWh]")