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NECO June/July 2024 - Get offline past questions & answers - Download objective & theory, all in one app 48789

Marginal cost is

Economics
JAMB 1978

Marginal cost is
  • A. Lowest cost of producing goods
  • B. The cost of production of the most efficient firm in the industry
  • C. Cost of production of the most inefficient firm in the industry
  • D. The cost of production of the last or extra unit of goods produced by a firm
  • E. The cost of production at which the minimum profit is obtained by a firm
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Correct Answer: Option D
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NECO June/July 2024 - Get offline past questions & answers - Download objective & theory, all in one app 48789
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WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
NECO June/July 2024 - Get offline past questions & answers - Download objective & theory, all in one app 48789
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts