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Efficient Scale of the Firm

Marginal cost...

Question

Marginal cost is the cost _______________.

of the last unit produced

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of the marginal unit

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of the marginally efficient unit

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of the average unit of production

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Solution

The correct option is B of the marginal unit
MC is the change in TC due to production of one additional unit of output. Hence, marginal cost is the cost of the marginal unit of the commodity produced.

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300

5

320

6

6

\frac{500}{\sqrt{2 x + 25}}

100

300

Output (Units)	1	2	3
TC (Rs.)	23	27	30

R s . 12

Output (Units)	$1$	$2$	$3$	$4$	$5$	$6$
Average Cost (Rs.)	$12$	$11$	$10$	$20$	$10.4$	$11$

Good - A (units)	0	1	2	3	4	5
Good - B (units)	65	52	39	26	13	0

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