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Marginal cost represents the Question 21 options: 1) additional cost of hiring one more unit of input 2) the amount of output we get when

Marginal cost represents the

Question 21 options:

1)

additional cost of hiring one more unit of input

2)

the amount of output we get when spending $1 more on inputs

3)

additional cost of producing one more unit of output.

4)

change in total cost divided by the change in an input.

5)

all of the above.

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