Question 20

Marginalcost equals (from within the following list):(i) the average fixed cost of the current unit.

(ii) change in total cost divided by change in quantity produced.

(iii) change in variable cost divided by change in quantity produced.

a.(ii) and (iii)

b.All of the answers are correct [(i),(ii),and (iii)]

c.(ii) only

d.(i)and (ii)