Question

difference between total cost and marginal cost​

Answer 1

Answer:

In economics, marginal cost is the change in the total cost when the quantity produced changes by one unit. It is the cost of producing one more unit of a good. Marginal cost includes all of the costs that vary with the level of production. ... The total cost for making two pairs of shoes is $40.

Answer 2

Answer:

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Explanation:

In economics, the total cost (TC) is the total economic cost of production. It consists of variable costs and fixed costs. Total cost is the total opportunity cost of each factor of production as part of its fixed or variable costs.

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