Output Total Cost $10 1 14 2 21 3 31 4 46

EBK HEALTH ECONOMICS AND POLICY
7th Edition
ISBN:9781337668279
Author:Henderson
Publisher:Henderson
Chapter4: Economic Evaluation In Health Care
Section: Chapter Questions
Problem 7QAP
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The table below shows the total cost of producing different quantities of political magnets.

What is the marginal cost of the second magnet?

Multiple Choice :

a) $7

b) $10

c) $21

d) $4

A
В
C
D
1
Output Total Cost
$10
3
4
5
1
14
2
21
7
3
31
8
4
46
9
10
2.
Transcribed Image Text:A В C D 1 Output Total Cost $10 3 4 5 1 14 2 21 7 3 31 8 4 46 9 10 2.
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