Cost RevenueRevenue Quantity Variable Price costs PER UNIT 0 $0.00 $5,3 1 $5.50 $5,3 2 $6.00 $5,3 3 $6.50 $5,3 4 $7.00 $5,3 $7.50 $5,3 6. $8.00 $5,3 The fixed costs are $70. Calculate the marginal costs if the current level of production is 3 units and the producer decides to increase its output by 1 unit. Show your answer with a number only. The number must have 2 digits after the decimal point.
Cost RevenueRevenue Quantity Variable Price costs PER UNIT 0 $0.00 $5,3 1 $5.50 $5,3 2 $6.00 $5,3 3 $6.50 $5,3 4 $7.00 $5,3 $7.50 $5,3 6. $8.00 $5,3 The fixed costs are $70. Calculate the marginal costs if the current level of production is 3 units and the producer decides to increase its output by 1 unit. Show your answer with a number only. The number must have 2 digits after the decimal point.
Chapter6: Proudction Costs
Section: Chapter Questions
Problem 9SQP
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