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Marginal cost is?

Marginal cost is?
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Take Free Practice Test On 2026 JAMB UTME, Post UTME, WAEC SSCE, GCE, NECO SSCE
  • A The lowest cost of producing goods
  • B The cost of production of the most efficient firm in an industry
  • C The cost of production of the most inefficient firm in an industry
  • D The cost of production of the last or extra unit of goods produced by a firm
Correct Answer: Option D
Explanation:
Marginal cost is the additional cost incurred in the production of an additional unit of a product or service.

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