Question

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What is marginal cost?
O the cost when taxes are taken into account
O the cost to produce one additional unit
O the costs that do not change regardless of the number of units produced
the costs that change based on the number of units produced

Answer 1

Marginal cost is defined as the cost incurred to produce one additional unit of a product. It is a crucial concept in economics and helps businesses in making decisions about production levels.

So, the correct answer is:

O the cost to produce one additional unit