What is Marginal cost?
Cost of producting one additional unit of commodity.
The marginal cost of production is the change in total production cost that comes from making or producing one additional unit. To calculate marginal cost, divide the change in production costs by the change in quantity.
Explanation:
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What is Marginal cost?
Cost of producting one additional unit of commodity.
The marginal cost of production is the change in total production cost that comes from making or producing one additional unit. To calculate marginal cost, divide the change in production costs by the change in quantity.
Explanation: