Table 14-2
The following table presents cost and revenue information for Soper's Port Vineyard.

-Refer to Table 14-2.Consumers are willing to pay $120 per unit of port wine.What is the marginal cost of the 1st unit?

Question

Table 14-2
The following table presents cost and revenue information for Soper's Port Vineyard.
 
-Refer to Table 14-2.Consumers are willing to pay $120 per unit of port wine.What is the marginal cost of the 1st unit?

Quizplus · Accepted Answer

The marginal cost of the 1st unit is $50, as it is the cost to produce one additional unit of port wine.

Table 14-2 The Following Table Presents Cost and Revenue Information for Soper's