Question: Marginal cost is defined as total cost divided by total output. the change in total costs from producing one more unit of output. the change
Marginal cost is defined as
total cost divided by total output.
the change in total costs from producing one more unit of output.
the change in fixed cost from producing one more unit of output.
total variable cost divided by total output.
The marginal cost curve often decreases at first and then starts to increase.
This is explained by
economies of scale.
increasing ATC.
the law of diminishing returns.
Use the information given in the table to calculate the marginal cost of the third unit of output. Enter your answer exactly; do not round.
tableOutputTotal cost,Marginal cost$NA$$
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