Marginal cost is the A. Cost of hiring another unit of a resource B. Average cos

Question

Marginal cost is the
A. Cost of hiring another unit of a resource B. Average cost of hiring a resource C. Additional revenue generated by hiring one more unit of a resource D. Total cost of hiring a resource E. Additional output generated by hiring one more unit of a resource Marginal cost is the
A. Cost of hiring another unit of a resource B. Average cost of hiring a resource C. Additional revenue generated by hiring one more unit of a resource D. Total cost of hiring a resource E. Additional output generated by hiring one more unit of a resource
A. Cost of hiring another unit of a resource B. Average cost of hiring a resource C. Additional revenue generated by hiring one more unit of a resource D. Total cost of hiring a resource E. Additional output generated by hiring one more unit of a resource

Explanation / Answer

"A"

Marginal cost is the cost increased because of hiring an additional unit of resources. It can also be written as a change in the cost/change in the quantity. The answer is "A".

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