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Law of Supply

Marginal cost...

Question

Marginal cost at any production level is the extra cost of producing ____________.

first unit of the commodity

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second unit of the commodity

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central unit of the commodity

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one extra unit of the commodity

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Solution

The correct option is D one extra unit of the commodity
MC is the extra (additional) cost of producing one extra unit of the commodity.

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Output (Units)	1	2	3
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C (x) = \frac{x^{3}}{3} + x^{2} - 15 x + 3

C (x) = 0.05 x^{3} - 0.02 x^{2} + 30 x + 5000

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C (x) = 0.005 x^{3} - 0.02 x^{2} + 30 x + 5000

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