The table above shows the short-run costs of a firm. What is the firm's marginal cost for the third item produced?
To find the marginal cost of the third item produced, we can use the following formula:
Marginal Cost (MC) = Total Cost at Q\(_3\) −Total Cost at Q\(_2\)
Given data from the table:
Total Cost at Quantity 2 (2TC\(_2\)) = 1310 N
Total Cost at Quantity 3 (3TC\(_3\)) = 1650 N
MC = TC\(_3\) − TC\(_2\) = 1650N − 1310N = 340N
Contributions ({{ comment_count }})
Please wait...
Modal title
Report
Block User
{{ feedback_modal_data.title }}