Advertisements
Advertisements
Question
The cost incurred by producing one more unit of output is ______ cost.
Options
variable
fixed
marginal
total
Advertisements
Solution
The cost incurred by producing one more unit of output is marginal cost.
APPEARS IN
RELATED QUESTIONS
What do the short run marginal cost, average variable cost and short run average cost curves look like?
At which point does the SMC curve intersect SAC curve? Give reason in support of your answer.
Identify the formula of estimating average variable cost.
Identify the formula of estimating average cost.
Find total cost where TFC=I00 and TVC = 125.
Revenue received from the sale of products is known as _______ revenue.
Revenue received from the sale of additional unit is termed as ________ revenue.
Marginal revenue is the addition made to the
State the relationship between AC and MC.
Discuss the short-run cost curves with suitable diagram.
Which cost remains unchanged when production increases or decreases?
What is an example of a variable cost in a bakery?
In the short run, what happens to fixed costs if a company produces more units?
What can help students understand cost behaviour more easily?
