01 n. The increase in total cost of production as a result of producing one more unit of output; since certain ovrhead costs are fixed, the margi…
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1.
The increase in total cost of production as a result of producing one more unit of output; since certain ovrhead costs are fixed, the marginal cost is almost aways less than the total per-unit cost of production averaged over all units produced.(Economics)
Syn.
incremental cost, differential cost.