The addition to total cost resulting from the addition of the last unit of output is known as:
A) marginal product.
B) average product.
C) average variable cost.
D) average total cost.
E) marginal cost.

Question

Quizplus · Accepted Answer

The addition to total cost resulting from the addition of the last unit of output is known as marginal cost. It is the cost of producing one additional unit of a good or service.

The Addition to Total Cost Resulting from the Addition of the Last