Question 3 The average cost of producing 10 units for a firm is £15, and the average cost of producing 11 units is £17. What is the marginal cost of the 11th unit? A £2 B C D £18.50 £37 £187

Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter7: Proudction Costs
Section: Chapter Questions
Problem 18SQ
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Question 3
The average cost of producing 10 units for a firm is £15, and the average cost
of producing 11 units is £17. What is the marginal cost of the 11th unit?
ABCD
£2
£18.50
£37
£187
Transcribed Image Text:Question 3 The average cost of producing 10 units for a firm is £15, and the average cost of producing 11 units is £17. What is the marginal cost of the 11th unit? ABCD £2 £18.50 £37 £187
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