The additional cost incurred by producing an additional unit of output is known as
ECONOMICS
JAMB 2016
The additional cost incurred by producing an additional unit of output is known as
- A. Fixed cost
- B. Total cost
- C. Average cost
- D. Marginal cost
Correct Answer: 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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