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The following are correct statements related to the Marginal Cost concepts,
EXCEPT:
a. Marginal Cost is the extra cost incurred by adding one extra unit of production.

b. Marginal Cost is always higher than Average Cost.

c. Marginal Cost initially declines and eventually increases as more units as
produced.

d. Total Cost at certain level of production is the aggregation of Marginal Cost
values for the units produced.

Answer :

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