Answered: From the information given in the…

From the information given in the table, calculate the marginal cost of the 3rd unit of output. Output (units) Total cost ($) Marginal cost ($) 20 N/A 1 35 15 45 10 3. 65 4. 90 25

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter12: The Cost Of Production

Section: Chapter Questions

Problem 4CQQ

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From the information given in the table, calculate the marginal cost of the 3rd unit of output.
Output (units) Total cost ($) Marginal cost ($)
20
N/A
35
15
45
10
3
65
4
90
25
The marginal cost curve may decrease at low quantities, but soon it starts to increase.

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