Marginal cost can be calculated as:
A)∆TC/∆Q, where TC is total cost and Q is output.
B)∆VC/∆Q, where VC is variable cost and Q is output.
C)the slope of the total cost curve.
D)∆TC/∆Q, where TC is total cost and Q is output; ∆VC/∆Q, where VC is variable cost and Q is output; and as the slope of the total cost curve.

Question

Marginal cost can be calculated as:
A)∆TC/∆Q, where TC is total cost and Q is output. 
B)∆VC/∆Q, where VC is variable cost and Q is output.
C)the slope of the total cost curve.
D)∆TC/∆Q, where TC is total cost and Q is output; ∆VC/∆Q, where VC is variable cost and Q is output; and as the slope of the total cost curve.

Quizplus · Accepted Answer

Marginal cost can be calculated using any of the methods mentioned: as the change in total cost divided by the change in output (∆TC/∆Q), as the change in variable cost divided by the change in output (∆VC/∆Q), and as the slope of the total cost curve. All these methods reflect the additional cost of producing one more unit of output.

Marginal Cost Can Be Calculated As