-Notice the costs as given in the table below.What is the marginal cost when total cost is $23? $$\begin{array} { c c }
\text { Total Output } & \text { Total Costs } \
0 & \$ 10 \
1 & \$ 15 \
2 & \$ 18 \
3 & \$ 20 \
4 & \$ 21 \
5 & \$ 23 \
\hline
\end{array}$$
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? $$\begin{array} { c c } 
\text { Total Output } & \text { Total Costs } \
0 & \$ 10 \
1 & \$ 15 \
2 & \$ 18 \
3 & \$ 20 \
4 & \$ 21 \
5 & \$ 23 \
\hline
\end{array}$$
A)$5 
B)$3 
C)$2 
D)$1

Quizplus · Accepted Answer

The marginal cost is the change in total cost when output increases by one unit. From 4 to 5 units, the total cost increases from $21 to $23, so the marginal cost is $2.

-Notice the Costs as Given in the Table Below A)$5 B)$3 C)$2 D)$1

-Notice the Costs as Given in the Table Below A)$5
B)$3
C)$2
D)$1