Question

Find the marginal cost of a product when the total cost is 8,24,44,56,66,78,89,97,102,121.

Average cost is 8,12,22,20,18,14,16,12,10,9

Answer 1

Answer:

Explanation:

Marginal cost is the change in the total costs by producing one more unit.

Total cost = FC + VC

Average cost = Total cost / quantity

Marginal cost =  change in Total cost / change in  quantity

These are formulas to compute marginal cost

Here given values

• Total cost             8 , 24,44,56,66,78,89, 97, 102,121
• Average cost         8, 12, 22, 20, 18,14,16,12,10,9  
• Quantity                 1 , 2, 2, 2.8 , 3.6 , 5.57, 5.56, 8.08, 10.2, 13.4

• Marginal cost         16, 0, 0.15,0.25,6,-1.1, 2.6, 2.5, 5.5