5. If a firm's production
department data says that TVC
for producing 8 units and 10
units of output is 2500 *
3000 respectively, marginal
cost of 10th unit will be: *
Answers
Given : a firm's production department data says that TVC for producing 8 units and 10 units of output is 2500 and 3000 respectively,
To Find : marginal cost of 10th unit will be:
Solution:
TVC = Total Variable cost
TVC for producing 8 units = 2500
TVC for producing 10 units = 3000
=> TVC for producing 10-8 units = 3000 - 2500
=> TVC for producing 2 units = 500
=> TVC for producing 1 units = 500/2
=> TVC for producing 1 units = 250
Variable cost of one additional unit of production is called marginal
cost = 250
marginal cost is per unit variable cost. = 250
Hence marginal cost of 10th unit will be: 250
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