Narrbegin Exhibit 6.5 Cost schedule for a firm
$$\begin{array} { | c | c | c | }
\hline \text { Quantity } & \text { Tatal cost (\$) } & \text { Marginal cost (\$) } \
\hline 0 & 200 & \
\hline 1 & 900 & \
\hline 2 & & 900 \
\hline 3 & 3000 & \
\hline
\end{array}$$
-In Exhibit 6.5, by filling in the blanks it can be determined that the marginal cost of the third unit of output is:

Question

Narrbegin Exhibit 6.5 Cost schedule for a firm
 $$\begin{array} { | c | c | c | } 
\hline \text { Quantity } & \text { Tatal cost (\$) } & \text { Marginal cost (\$) } \
\hline 0 & 200 & \
\hline 1 & 900 & \
\hline 2 & & 900 \
\hline 3 & 3000 & \
\hline
\end{array}$$
-In Exhibit 6.5, by filling in the blanks it can be determined that the marginal cost of the third unit of output is:

Quizplus · Accepted Answer

The marginal cost of the third unit of output is calculated by the change in total cost divided by the change in quantity. From 2 units (total cost not given) to 3 units (total cost $3000), the marginal cost is the difference between the total cost of 3 units and the total cost of 2 units. Given the total cost for 1 unit is $900 and the marginal cost for the second unit is $900, the total cost for 2 units is $1800 ($900 for the first unit + $900 for the second unit). Therefore, the marginal cost for the third unit is $3000 (total cost for 3 units) - $1800 (total cost for 2 units) = $1200.

Narrbegin Exhibit 6 -In Exhibit 6