WAEC - Economics (2012 - No. 18)
In the firm's production process, marginal cost
falls continuously throughout
falls and later rises
remains unchanged throughout
rises and later falls
Uitleg
Marginal cost is the cost additional cost incurred by producing one additional unit of a product or service. In the production process, the cost would usually rise and the fall in the long run when the firm starts enjoying economies of scale. That is, higher outputs, minimal cost