Marginal cost represents the change in total cost that arises when the quantity produced is changed by one unit. In short, it is the cost of one additional unit of a good. The marginal cost may vary with volume or with each level of production.
Marginal cost represents the change in total cost that arises when the quantity produced is changed by one unit. In short, it is the cost of one additional unit of a good. The marginal cost may vary with volume or with each level of production.
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