2011
Economics
POST UTME
Which of the following is TRUE of marginal cost?
A.
it is a cost incurred by the firm on variable inputs
B.
it is the cost of producing one extra unit of a commodity at any output level
C.
it is the sum of the fixed cost and variable cost
D.
it is referred to as overhead cost
Correct Answer: it is the cost of producing one extra unit of a commodity at any output level
Explanation
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