Marginal Cost Is

question 66

Multiple Choice

Marginal cost is

• A)the total cost of producing one unit of a good or service.
• B)the average cost of producing a good or service.
• C)the difference between the lowest price a firm would have been willing to accept and the price it actually receives.
• D)the additional cost to a firm of producing one more unit of a good or service.

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Definitions:

Assign Value

Refers to setting or changing the amount or status of a variable or property in programming, mathematics, or data management.

Cell

A single data point or element in a spreadsheet or table, identified by the intersection of a column and a row.

Order of Operations

A collection of guidelines in mathematics that specifies the order in which operations are to be executed.

Excel

Microsoft Excel is a spreadsheet application that enables users to manage, structure, and perform calculations on data through formulas within a grid of cells organized into rows and columns.