If the total cost incurred by a firm in hiring ten workers is $45 and the total cost incurred when the eleventh worker is hired is $60,the marginal cost of hiring the eleventh worker is ________.
A) $1.33
B) $15
C) $20
D) $105

Question

Quizplus · Accepted Answer

The marginal cost of hiring the eleventh worker is calculated by subtracting the total cost before hiring the eleventh worker ($45) from the total cost after hiring the eleventh worker ($60), which equals $15.

If the Total Cost Incurred by a Firm in Hiring