Suppose Joann knows the average total cost of producing 9 gallons of ethanol is $5, while the average total cost of producing 10 gallons of ethanol is $5.20. What is the marginal cost of the 10th unit? OA. The marginal cost is $7. B. The marginal cost is $5.20. OC. The marginal cost is $0.20. OD. None of the above is correct.

Suppose Joann knows the average total cost of producing 9 gallons of ethanol is $5, while the average total cost of producing 10 gallons of ethanol is $5.20. What is the marginal cost of the 10th unit? OA. The marginal cost is $7. B. The marginal cost is $5.20. OC. The marginal cost is $0.20. OD. None of the above is correct.

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter12: The Cost Of Production

Section: Chapter Questions

Problem 4CQQ

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