A firm's output, variable costs, and total costs are given in the table below.
Instructions: Round your answers to the nearest dollar.
a. Calculate marginal cost using the formula given in the chapter: Δ total cost / Δ quantity.
|
Quantity
|
Variable cost ($)
|
Total cost ($)
|
Marginal cost ($)
|
|
0
|
0
|
100
|
-
|
|
10
|
50
|
150
|
|
|
20
|
80
|
180
|
|
|
30
|
120
|
220
|
|
|
40
|
180
|
280
|
|
|
50
|
260
|
360
|
|