Exact Marginal Cost vs Approximate Marginal CostIn this video we cover how to calculate the exact marginal cost, where you don't use a derivative but instead use C(x) and C(x+1). Also explained is the difference between exact marginal cost and approximate marginal cost and how to compare them, which is the most common type of question you'll see about these. |
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This video appears on the page: Demand, Marginal Cost, Marginal Revenue & Marginal Profit