QUESTION 15 Imagine a small juice producer named " Bilberry Infused Beverages" known for its refreshing beverages. The owner, Louis, keeps track of the production costs. Recently he decided to expand his operations and produce more Juices to meet the increasing demand. Table 15.1 below shows the data he has collected: Complete Table 15.1 below and use the information to answer the question that follows. Table 15:1 Production Costs for Bilberry Infused Beverages (4 Marks) Output Total cost Fixed cost Variable Marginal Average cost cost cost Average fixed cost 0 30 O 1 10 2 18 3 22 4 5 64 B 832 8 76 7 8 15 15 What is the marginal cost of producing the 8th unit of the good? a) 4 b) 10 c) 12 d) 29

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