\(\begin{array}{c|c}
\text{Unit of output} & \text{Table cost}\\
\hline
1 & 20 \\
2 & 32 \\
3 & 42 \\
4 & 48 \\
5 & 50 \\
\end{array}\)
in the above table, the marginal cost of the 3rd unit of output is
The marginal cost is the additional cost incurred in the production of an extra unit of a commodity.
From the table above, the firm incurred an extra cost of N10 to produce an extra unit of the commodity at 3 units.
At 2 units, it spent N32. When it increased the unit of output from 2 to 3, it was produced at N42 thereby incurring an additional cost of N10 in the production cost.
That is, 42 - 32 = 10
Contributions ({{ comment_count }})
Please wait...
Modal title
Report
Block User
{{ feedback_modal_data.title }}