Answered: Table 8.5 Output Total Cost 0 15 1 25…

Table 8.5 Output Total Cost 0 15 1 25 2 33 3 40 4 48 5 58 6 70 Refer to Table 8.5. The marginal cost of the third unit of output is: A. 0 B. 7 C. 8 D. 40

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter8: Cost Analysis

Section: Chapter Questions

Problem 2.3CE

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Question

Table 8.5

Output	Total Cost
0	15
1	25
2	33
3	40
4	48
5	58
6	70

Refer to Table 8.5. The marginal cost of the third unit of output is:

A. 0

B. 7

C. 8

D. 40

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