Write down the formula of Marginal Cost.
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Answer:
The marginal cost formula represents the incremental costs incurred when producing additional units of a good or service..
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Explanation:
Marginal cost is the increase or decrease in total production cost if output is increased by one more unit. The formula to obtain the marginal cost is change in costs/change in quantity. If the price you charge per unit is greater than the marginal cost of producing one more unit, then you should produce that unit.
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