The additional cost incurred by producing an additional unit of output is known as?

By: |Published on: Oct 20|Categories: Economics JAMB| 0 comments

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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