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At 3,000 level of output does the marginal benefit the equal marginal cost in this video's example
What is meant by marginal cost?
The change in overall cost caused by an increase in the amount produced, or the price of producing more, is known as the marginal cost. It can refer to an increase of one unit of output in some settings and to the rate of change of total cost as output increases by a tiny amount in others.
The marginal cost is the slope of the total cost, or the rate at which it rises with output, and is shown in Figure 1 to be measured in dollars per unit while total cost is shown to be in dollars. The difference between average cost, which is the entire cost divided by the quantity of units produced, and marginal cost is that latter.
The overall costs involved in producing an additional good are what is referred to as the marginal cost. Therefore, it can be evaluated by changes in the costs associated with each extra unit. Marginal Cost is calculated as Total Expense Change / Unit Production Change.
Hence, At 3,000 level of output does the marginal benefit the equal marginal cost in this video's example.
To learn more about marginal cost refer to:
https://brainly.com/question/3200587
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