The table below shows Crystal’s total cost of producing different quantities of tie-dyed t-shirts for a local arts festival.   Instructions: Enter your answers as a whole number.   a. Complete the marginal cost column in the table.   Tie-Dyed T-Shirt Production Costs Output Total Cost (dollars) Marginal Cost (dollars) 0 $20 — 1 24 $ 2 27   3 29   4 33   5 39   6 47   b. What is the total cost of producing 5 tie-dyed t-shirts?        $      c. What is the marginal cost of producing the 5th tie-dyed t-shirt?        $

ENGR.ECONOMIC ANALYSIS
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ISBN:9780190931919
Author:NEWNAN
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Chapter1: Making Economics Decisions
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The table below shows Crystal’s total cost of producing different quantities of tie-dyed t-shirts for a local arts festival.

 

Instructions: Enter your answers as a whole number.

 

a. Complete the marginal cost column in the table.

 

Tie-Dyed T-Shirt Production Costs

Output Total Cost (dollars) Marginal Cost (dollars)
0 $20
1 24 $
2 27  
3 29  
4 33  
5 39  
6 47  

b. What is the total cost of producing 5 tie-dyed t-shirts?

 

     $   

 

c. What is the marginal cost of producing the 5th tie-dyed t-shirt?

 

     $    

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