what is the best definition of marginal cost?\nthe possible income from producing an additional item\nthe…

what is the best definition of marginal cost?\nthe possible income from producing an additional item\nthe price of producing one additional unit of a good\nthe additional income gained from selling an additional good\nthe financial gain from business activity minus expenses

what is the best definition of marginal cost?\nthe possible income from producing an additional item\nthe price of producing one additional unit of a good\nthe additional income gained from selling an additional good\nthe financial gain from business activity minus expenses

Answer

Brief Explanations:

Marginal cost refers to the cost associated with producing one more unit of a good. The first option is about income (not cost). The third option is about income from selling (marginal revenue). The fourth option is about profit (revenue - expenses). Only the second option correctly defines marginal cost as the price (cost) of producing one additional unit.

Answer:

the price of producing one additional unit of a good