5. The production cost for a firm is given in the table below, calculate the marginal cost of producing a 10thunit of output.OUutput (units)Total cost (£) Average cost (£/unit)8.672846.819911098098111155105121344112Marginal cost equals £Next page >( Previous page

Marginal cost is the additional cost of producing each additional unit of output. Marginal cost =…

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The production cost for a firm is given in the table below, calculate the marginal cost of producing a 10th unit of output. Output (units) Total cost (£) Average cost (£/unit) 8. 672 84 01

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

The production cost for a firm is given in the table below, calculate the marginal cost of producing a 10th
unit of output.
OUutput (units)
Total cost (£) Average cost (£/unit)
8.
672
84
6.
819
91
10
980
98
11
1155
105
12
1344
112
Marginal cost equals £
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( Previous page

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