Asked by Ashley Minaya on Jul 26, 2024
Verified
The _____ curve shows the additional cost of producing each additional unit of output.
A) average cost
B) total cost
C) marginal product
D) marginal cost
Marginal Cost Curve
A graphical representation showing how the cost of producing one more unit of a good varies as the production volume changes.
- Examine the effects of amplifying and lessening marginal returns on marginal cost.
Verified Answer
ZK
Zybrea KnightAug 01, 2024
Final Answer :
D
Explanation :
The marginal cost curve shows the additional cost incurred in producing each additional unit of output. This is important for businesses to understand as it enables them to make decisions about how much to produce and at what price to sell.
Learning Objectives
- Examine the effects of amplifying and lessening marginal returns on marginal cost.