ECONOMICS
PROFIT
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
the possible income from producing an additional item
|
|
|
the price of producing one additional unit of a good
|
|
|
the additional income gained from selling an additional good
|
|
|
the financial gain from business activity minus expenses
|
Detailed explanation-1: -The marginal cost refers to the increase in production costs generated by the production of additional product units. It is also known as the marginal cost of production. Calculating the marginal cost allows companies to see how volume output influences cost and hence, ultimately, profits.
Detailed explanation-2: -Marginal cost is the cost to produce one additional unit of production. It is an important concept in cost accounting as marginal cost helps determine the most efficient level of production for a manufacturing process.
Detailed explanation-3: -Marginal cost represents the incremental costs incurred when producing additional units of a good or service. It is calculated by taking the total change in the cost of producing more goods and dividing that by the change in the number of goods produced.
Detailed explanation-4: -Marginal cost is the expense incurred by a business for producing an additional unit of a good or service. It is calculated by taking the total cost of producing additional products and dividing it by the total number of extra units produced.
Detailed explanation-5: -The marginal cost of production is the incremental costs that you incur to produce one more unit of production. It includes the additional costs of goods sold, direct labor, and other variable costs that increase with production levels. In most cases, the marginal cost of production increases as production increases.