Notice the costs as given in the table below. What is the marginal cost when total cost is $23?
A) $5
B) $3
C) $2
D) $1

Question

Notice the costs as given in the table below. What is the marginal cost when total cost is $23? 
A) $5 
B) $3 
C) $2 
D) $1

Quizplus · Accepted Answer

To find the marginal cost, we need to look at the change in total cost when the quantity produced increases by one unit. In this table, we can see that the cost increases from $21 to $23 when the quantity produced increases from 4 units to 5 units. Therefore, the marginal cost of producing the 5th unit is $2. So the best choice is C.

Notice the Costs as Given in the Table Below