Table 5.2-Jeans Production
-What is the marginal cost of the 30^th pair of jeans in Table 5.2?

Name: Table 5.2-Jeans Production -What is the marginal cost of the 30 th pair of jeans in Table 5.2?
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Question

Table 5.2-Jeans Production -What is the marginal cost of the 30^th pair of jeans in Table 5.2?

Quizplus · Accepted Answer

The marginal cost is the change in total cost divided by the change in quantity. In this case, the change in total cost is $45.00 - $40.50 = $4.50, and the change in quantity is 30 - 29 = 1. Therefore, the marginal cost is $4.50 / 1 = $4.50.