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Fantom [35]
3 years ago
5

Marginal cost is defined as the change in ________ cost when output changes by one unit. In the short run

Business
2 answers:
-Dominant- [34]3 years ago
8 0

Answer:

Marginal cost is defined as the percentage change in total when output changes by one unit

Explanation:

Marginal cost is the cost of producing one extra unit of output.In order to marginal cost, the below formula is helpful:

marginal=total cost at succeeding output level-total cost at preceding output level/(volume at succeeding output level-volume at preceding output level)

Assuming the total cost and volume at succeeding levels are $4000 and 4000 units

Then total cost and volume at preceding ones are $3000 and 3000

Marginal cost=$4000-$3000/4000-3000

                    =$1

salantis [7]3 years ago
6 0

Answer:

Marginal cost is defined as the change in <u>total </u>cost when output changes by one unit in the short run.

Explanation:

<em>Marginal cost is defined as the change in total cost when output changes by one unit. In the short run.</em>

<em>It is the amount by total cost will increase as a result of producing additional one more unit of a product.</em>

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