If total cost is $1,000 when output is zero, and total cost is $1,200 when output is one, and total cost is $1,500 when output is two, then which of the following is true ?

Name: If total cost is $1,000 when output is zero, and total cost is $1,200 when output is one, and total cost is $1,500 when output is two, then which of the following is true ?
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Question

Quizplus · Accepted Answer

The marginal cost of producing the second unit is the change in total cost when output increases from one to two, which is $1,500 - $1,200 = $300.

If Total Cost Is $1,000 When Output Is Zero, and Total