chloeg4025 chloeg4025

13-08-2019
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Marginal cost is equal to the a. change in average product divided by the change in outputb. change in total cost divided by the change in outputc. change in average total costs divided by the change in outputd. change in total product divided by the change in output

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DelcieRiveria DelcieRiveria

16-08-2019

Answer:

The correct answer is option b.

Explanation:

Marginal cost shows the change in total cost incurred due to producing an additional unit of output.

It can be calculated by the ratio of change in total cost due and change in output level.

Change in total product divided by change in output gives marginal product not marginal cost.

So, the correct answer is option b.

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