Multiple Choice Questions on Change in the total cost of production when the output is decreased or increased by one unit is know........... for SEBI Grade A ( Officer) Exam Preparation

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Multiple Choice Questions

Change in the total cost of production when the output is decreased or increased by one unit is know...........

Costing - Phase (I & II) Overview of Cost and Management Accounting
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    Change in the total cost of production when the output is decreased or increased by one unit is known as:

    Marginal cost

    Correct Answer

    Differential cost

    Incorrect Answer

    Sunk Cost

    Incorrect Answer

    Opportunity cost

    Incorrect Answer
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    Explanation:

    Marginal cost can be defined as change in the total cost of production when the output is decreased or increased by one unit. Marginal cost is the total of variable costs i.e. Prime Costs plus Variable Overheads.

    By: Vikas Goyal
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