The table below shows Crystal’s total cost of producing different quantities of tie-dyed t-shirts for a local arts festival. Instructions: Enter your answers as a whole number. a. Complete the marginal cost column in the table. Tie-Dyed T-Shirt Production Costs Output Total Cost (dollars) Marginal Cost (dollars) 0 $15 — 1 18 $ 2 20 3 21 4 24 5 29 6 36 b. Graph the marginal cost curve for producing tie-dyed t-shirts. Instructions: Use the tool provided 'Marginal Cost' to plot the line point by point (6 points total). Plot from 1 to 6 units of output. c. What is the total cost of producing 5 tie-dyed t-shirts? $ d. What is the marginal cost of producing the 5th tie-dyed t-shirt? $
The table below shows Crystal’s total cost of producing different quantities of tie-dyed t-shirts for a local arts festival. Instructions: Enter your answers as a whole number. a. Complete the marginal cost column in the table. Tie-Dyed T-Shirt Production Costs Output Total Cost (dollars) Marginal Cost (dollars) 0 $15 — 1 18 $ 2 20 3 21 4 24 5 29 6 36 b. Graph the marginal cost curve for producing tie-dyed t-shirts. Instructions: Use the tool provided 'Marginal Cost' to plot the line point by point (6 points total). Plot from 1 to 6 units of output. c. What is the total cost of producing 5 tie-dyed t-shirts? $ d. What is the marginal cost of producing the 5th tie-dyed t-shirt? $
Principles of Microeconomics
7th Edition
ISBN:9781305156050
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter13: The Cost Of Production
Section: Chapter Questions
Problem 1PA
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Question
The table below shows Crystal’s total cost of producing different quantities of tie-dyed t-shirts for a local arts festival.
Instructions: Enter your answers as a whole number.
a. Complete the marginal cost column in the table.
Tie-Dyed T-Shirt Production Costs
| Output | Total Cost (dollars) | Marginal Cost (dollars) |
| 0 | $15 | — |
| 1 | 18 | $ |
| 2 | 20 | |
| 3 | 21 | |
| 4 | 24 | |
| 5 | 29 | |
| 6 | 36 |
b. Graph the marginal cost curve for producing tie-dyed t-shirts.
Instructions: Use the tool provided 'Marginal Cost' to plot the line point by point (6 points total). Plot from 1 to 6 units of output.
c. What is the total cost of producing 5 tie-dyed t-shirts?
$
d. What is the marginal cost of producing the 5th tie-dyed t-shirt?
$
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