WAEC Agricultural Science 2024 Objective — Question 49

Question 49 of 50 from the West African Examinations Council (WAEC) Agricultural Science 2024 Objective paper, with the correct answer and a full explanation.

49. Marginal cost could be described as the A.

A. change in total cost as output is increased by one unit.Correct
B. product of average variable cost and the number of units produced.
C. increase in fixed cost that results from increasing production by one unit.
D. average physical product multiplied by the variable cost.

Explanation

Marginal cost is the additional cost incurred by producing one more unit of a good or service: MC = (change in Total Cost)/(change in quantity).

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