In
economics and
finance, marginal cost is the change in
total cost that arises when the quantity produced changes by one unit. Mathematically, the marginal cost (MC) function is expressed as the
derivative of the
total cost (TC) function with respect to quantity (Q). Note that the marginal cost may change with volume, and so at each level of production, the marginal cost is the cost of the next unit produced.
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the cost associated with one additional unit of production; also called incremental costs.
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