\(\begin{array}{c|c}
\text{Unit of output} & \text{Table cost}\\
\hline
1 & 20 \\
2 & 32 \\
3 & 42 \\
4 & 48 \\
5 & 50 \\
\end{array}\)

in the above table, the marginal cost of the 3rd unit of output is

Correct answer is C

The marginal cost is the additional cost incurred in the production of an extra unit of a commodity.

From the table above, the firm incurred an extra cost of N10 to produce an extra unit of the commodity at 3 units.

At 2 units, it spent N32. When it increased the unit of output from 2 to 3, it was produced at N42 thereby incurring an additional cost of N10 in the production cost.

That is, 42 - 32 = 10

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\(\begin{array}{c|c}
\text{Unit of output} & \text{Table cost}\\
\hline
1 & 20 \\
2 & 32 \\
3 & 42 \\
4 & 48 \\
5 & 50 \\
\end{array}\)

in the above table, the marginal cost of the 3rd unit of output is

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\(\begin{array}{c|c} \text{Unit of output} & \text{Table cost}\\ \hline 1 & 20 \\ 2 & 32 \\ 3 & 42 \\ 4 & 48 \\ 5 & 50 \\ \end{array}\) in the above table, the marginal cost of the 3rd unit of output is

Similar Questions

Aptitude Tests

\(\begin{array}{c|c}
\text{Unit of output} & \text{Table cost}\\
\hline
1 & 20 \\
2 & 32 \\
3 & 42 \\
4 & 48 \\
5 & 50 \\
\end{array}\)

in the above table, the marginal cost of the 3rd unit of output is