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Figure: Short-Run Costs II
-(Figure: Short-Run Costs II) Look at the figure Short-Run Costs II. Curve 1 is the _____ cost curve.
A) average total
B) average variable
C) marginal
D) total

Question

Use the following to answer questions:
Figure: Short-Run Costs II 
-(Figure: Short-Run Costs II) Look at the figure Short-Run Costs II. Curve 1 is the _____ cost curve.
A) average total 
B) average variable 
C) marginal 
D) total

Quizplus · Accepted Answer

Marginal cost is the change in total cost that results from producing one additional unit of output. In the figure, curve 1 shows the change in total cost as output increases, which is the definition of marginal cost.

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