Marginal Cost: Definition, Equation & Formula

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

What is the formula used to calculate marginal cost?

Create Your Account To Take This Quiz

As a member, you'll also get unlimited access to over 79,000 lessons in math, English, science, history, and more. Plus, get practice tests, quizzes, and personalized coaching to help you succeed.

Try it risk-free
Try it risk-free for 30 days. Cancel anytime
Already registered? Log in here for access

1. Why is marginal cost useful?

2. If you plot different marginal costs on a graph, what shape will be produced?

Create your account to access this entire worksheet
A Premium account gives you access to all lesson, practice exams, quizzes & worksheets
Access to all video lessons
Quizzes, practice exams & worksheets
Certificate of Completion
Access to instructors
Create an account to get started Create Account

About This Quiz & Worksheet

Marginal cost is a key concept to be aware of in the field of business, and this quiz/worksheet will help you test your understanding of its calculation and use.

Quiz & Worksheet Goals

In these assessments you'll be tested on several aspects of marginal cost, including:

  • The formula for calculating marginal cost
  • Why marginal cost is useful
  • Graphing marginal cost
  • The calculation and implications of marginal cost within specific examples

Skills Practiced

This quiz and worksheet allow students to test the following skills:

  • Problem solving - use acquired knowledge to solve practice problems involving the calculation of marginal cost
  • Information recall - access the knowledge you've gained regarding why marginal cost is useful, the formula for calculating marginal cost, and the characteristics of a graph depicting marginal cost
  • Making connections - use understanding of the concept of marginal cost in both a general sense and as it applies to specific examples

Additional Learning

The lesson called Marginal Cost: Definition, Equation & Formula helps you review this subject and master its nuances. It has the following objectives:

  • Define marginal cost
  • Know the formula for calculating marginal cost
  • Explore the U-shaped curve of a marginal cost graph
  • Understand how and why marginal cost is used
Support