Difference between marginal cost and incremental cost
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While marginal cost refers to the change in total costresulting from producing an additional unit of output,incremental cost refers to total additional cost associated with the decision to expand output or to add a new variety of product etc. It represents the difference between two alternatives.
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While marginal cost refers to the change in total costresulting from producing an additional unit of output,incremental cost refers to total additional cost associated with the decision to expand output or to add a new variety of product etc. It represents the difference between two alternatives.
hope it helps you ☺
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