Given the data provided in the table below, what is the marginal cost of producing the 4th unit of output? Q P TC TR MR MC Profit 0 $5 $9 1 $5 $10 2 $5 $12 3 $5 $15 4 $5 $19 5 $5 $24 6 $5 $30 7 $5 $45 Question 12 options: a) $4.00 b) $19.00 c) $4.75 d) $5.00

Given the data provided in the table below, what is the marginal cost of producing the 4th unit of output? Q P TC TR MR MC Profit 0 $5 $9 1 $5 $10 2 $5 $12 3 $5 $15 4 $5 $19 5 $5 $24 6 $5 $30 7 $5 $45 Question 12 options: a) $4.00 b) $19.00 c) $4.75 d) $5.00

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter7: Production, Costs, And Industry Structure

Section: Chapter Questions

Problem 32CTQ: How does fixed cost affect marginal cost? Why is this relationship important?

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Question

Given the data provided in the table below, what is the marginal cost of producing the 4th unit of output?

Q	P	TC
0	$5	$9
1	$5	$10
2	$5	$12
3	$5	$15
4	$5	$19
5	$5	$24
6	$5	$30
7	$5	$45

Question 12 options:

$4.00

$19.00

$4.75

$5.00

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