Show If you're seeing this message, it means we're having trouble loading external resources on our website. If you're behind a web filter, please make sure that the domains *.kastatic.org and *.kasandbox.org are unblocked. Exercise Set 12 COST FUNCTIONSI. Objectives
II. Data
III. Questions
IV. Additional Questions
Answers to selected questions in Section IV: 5c 6d 7a 8d 9c 10b 11c 12 13b 14c 15b 16c 17a 18d 19c 20 21b 22d 23b 24b 25a 26d 27a EC102 What is the marginal cost of producing the 6th unit?Answer and Explanation: Where, TVC is the total variable cost and AVC represents average variable cost. Therefore, marginal cost of 6th unit is $99.98.
What is the marginal cost of producing the 4th unit of output?The marginal cost of producing the fourth unit = the total cost of producing four units – the total cost to produce three units = R110 – R100 = R10. The marginal cost of producing the fifth unit = the total cost of producing five units – the total cost to produce four units = R122 – R120 = R12.
What is the marginal cost of producing the 3rd unit of output?Answer and Explanation: Therefore, the marginal cost of producing the third unit is 10.
What is the marginal cost of production?🤔 Understanding marginal cost of production
The marginal cost of production is the incremental costs that you incur to produce one more unit of production. It includes the additional costs of goods sold, direct labor, and other variable costs that increase with production levels.
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