Exhibit 7-9 Cost schedule for firm X

As shown in Exhibit 7-9, the marginal cost of producing the third unit is:

Name: Exhibit 7-9 Cost schedule for firm X As shown in Exhibit 7-9, the marginal cost of producing the third unit is:
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Question

Exhibit 7-9 Cost schedule for firm X

As shown in Exhibit 7-9, the marginal cost of producing the third unit is:

Quizplus · Accepted Answer

The marginal cost is calculated by the change in total cost divided by change in quantity. So, marginal cost of producing the third unit would be ($72 - $48) / (3 - 2) = $24. Therefore, the correct answer is C.

Exhibit 7-9 Cost Schedule for Firm X