2Total Fixed Variable MarginalCostCostCostQuantity Cost$2401234$114$50--$16Fixed Variable TotalCost CostCost$358.Refer to the above table. What is the marginal cost of the 3rd unit of output?a $52b. $68c. $34d. $40lette

2 Total Quantity Cost $24 0 1 2 3 4 $114 Fixed Variable Marginal Fixed Variable Total Cost Cost Cost Cost Cost Cost $50 $16 -- adow telew to $35 8.Refer to the above table. What is the marginal cost of the 3rd unit of output? a $52 b. $68 c. $34 d. $40

2 Total Quantity Cost $24 0 1 2 3 4 $114 Fixed Variable Marginal Fixed Variable Total Cost Cost Cost Cost Cost Cost $50 $16 -- adow telew to $35 8.Refer to the above table. What is the marginal cost of the 3rd unit of output? a $52 b. $68 c. $34 d. $40

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

2
Total Fixed Variable Marginal
Cost
Cost
Cost
Quantity Cost
$24
0
1
2
3
4
$114
$50
--
$16
Fixed Variable Total
Cost Cost
Cost
$35
8.Refer to the above table. What is the marginal cost of the 3rd unit of output?
a $52
b. $68
c. $34
d. $40
lette

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