Table 14-8
The following table presents cost and revenue information for Soper's Port Vineyard.

-Refer to Table 14-8.What is the marginal cost of the 1st unit?

Question

Table 14-8
The following table presents cost and revenue information for Soper's Port Vineyard.
 
-Refer to Table 14-8.What is the marginal cost of the 1st unit?

Quizplus · Accepted Answer

Marginal cost is the cost of producing one additional unit. In the table, we can see that the total cost increases from $100 to $150 when the production increases from 1 unit to 2 units. Therefore, the marginal cost of the 1st unit is $50 ($150 - $100 = $50).

There is no clear question regarding a "best choice" provided in the given information, so no answer can be given for that part of the question.

Table 14-8 The Following Table Presents Cost and Revenue Information for Soper's