Question

What does you mean by marginal cost of production?

Answer 1

The increase or decrease in the totalcost of a production run for making one additional unit of an item. ...Marginal costs are variable costsconsisting of labor and material costs, plus an estimated portion of fixedcosts (such as administration overheads and selling expenses).

Answer 2

MARGINAL COST :

the cost added by producing one additional unit of a product or service is known as " Marginal Cost of production..

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