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Question
what is the best definition of marginal cost? 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
Marginal cost is the cost of producing one more unit of a good. It is not about income (which rules out the first and third options) and not about overall financial gain minus expenses (fourth option). The second option correctly defines it as the price of producing one additional unit.
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the price of producing one additional unit of a good