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Definition | : | Short-run Marginal Cost |
Category | : | Business » Business Terms |
Country/ Region |
: | Worldwide
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Short-run Marginal Cost (SMC) is defined as the change in total cost per unit of change in output. It is an economic concept that describes the cost of producing a small number of additional units of a good or service.
The full form of SMC is Short-run Marginal Cost
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