ontinue with the table and complete the calculation for Marginal Cost: Bags/ Participants Fixed Cost Variable Cost Total Cost Average Variable Cost Marginal Cost Total Revenue wt Price $20 Marginal Revenue Total Profit 0 1700 0 1700     0   -1700 100 1700 500 2200  a  3a 2000  20 -200 200 1700 1200 2900  b  3b 4000  20 1100 300 1700 2700 4400  c  3c 6000  20 1600 400 1700 5200 6900  d  3d 8000  20

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
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Continue with the table and complete the calculation for Marginal Cost:

Bags/ Participants
Fixed Cost
Variable Cost
Total Cost
Average Variable Cost
Marginal Cost
Total Revenue wt Price $20
Marginal Revenue
Total Profit
0
1700
0
1700
   
0
 
-1700
100
1700
500
2200
 a
 3a
2000
 20
-200
200
1700
1200
2900
 b
 3b
4000
 20
1100
300
1700
2700
4400
 c
 3c
6000
 20
1600
400
1700
5200
6900
 d
 3d
8000
 20
1100
500
1700
9000
10700
 e
 3e
10000
 20
-700
600
1700
15000
16700
 f
 3f
12000
 20
-4700
700
1700
23800
25500
 g
 3g
14000
 20
-11500
800
1700
36800
38500
 h
 3h
16000
 20
-22500
900
1700
55800
57500
 i
 3i
18000
 20
-39500
1000
1700
83000
84700
 j
 3j
20000
 20
-64700

 

ROUND ANSWER TO NEAREST WHOLE DOLLAR, I.E. 356.50 WOUDL BE 357 AND 356.40 WOULD BE 356.
 
3a) 
3b) 
3c) 
3d) 
3e) 
3f) 
3g) 
3h) 
3i) 
3j) 

 

 
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