Download App

Production and cost — Economics STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceEconomicsProduction and cost1 Mark
Question
Define Marginal Costa.
✓

Answer

Marginal Cost is additional cost owing to the production of an additional unit of output.
Symbolically, $MC = TC_n - TC_{n - 1}$​​​​​​​

Need a full question paper?

Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.

Start Generating Free

Explore more

More "1 Marks Question" from Production and cost→Production and cost — all question types→Economics STD 11 Commerce question papers→CBSE Board STD 11 Commerce question papers→CBSE Board question paper generator→

Similar questions

What do you mean by duopoly?
→
What is likely to be the impact of efforts towards reducing unemployment on the production potential of the economy? Explain.
→
What is the general profit maximizing condition for a producer (MR and MC approach)?
→
A firm under monopolistic competition connot decide the price, however it has partial control over it. Why?
→
What is meant by average Product (AP)?
→
What is the behaviour of average revenue in a market in which a firm can sell more only by lowering the price?
→
In which market form demand curve of a firm is perfectly elastic?
→
In which market form the goods are sold at uniform price?
→
Give the meaning of economy.
OR
Define the economy.
→
Is the study of cotton textile industry, a microeconomic study or a macroeconomic study?
→