Question

Marginal cost is defined as the change in ________ cost when output changes by one unit. In the short run, marginal cost can also be measured by the change in ________ cost when output changes by one unit.

Answer 1

Answer:

Total cost, variable cost

Explanation:

The marginal cost is that cost which is produced with an additional unit of the commodity. There are two types of cost i.e variable cost and the fixed cost which are used in the short run for the production.  

The variable cost is that cost which can be changed when the production level changes whereas the fixed cost is that cost which cannot be changed whether production level changes or not

And, the sum of the fixed cost and the variable cost is called the total cost  

So, the appropriate term is the total cost and the variable cost