Use the following to answer question:
-(Table: Output and Costs)Use Table: Output and Costs.When output increases from 1 to 2,marginal cost equals:
A)$13.
B)$10.
C)$8.
D)$17.

Question

Use the following to answer question: 
-(Table: Output and Costs)Use Table: Output and Costs.When output increases from 1 to 2,marginal cost equals:
A)$13. 
B)$10. 
C)$8. 
D)$17.

Quizplus · Accepted Answer

To determine the marginal cost, we need to look at the change in total cost that results from a one-unit increase in output. In this case, as output increases from 1 to 2, total cost increases from $21 to $29, which represents a change of $8. Therefore, the marginal cost of producing the second unit of output is $8.

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