Economics Today: The Micro View (19th Edition) (Pearson Series in Economics)
19th Edition
ISBN: 9780134479255
Author: Roger LeRoy Miller
Publisher: PEARSON
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Question
Chapter 22, Problem 13P
To determine
The marginal cost of producing 251 units of output instead of 250.
Concept Introduction:
Marginal cost: The marginal cost is the additional cost derived from producing an additional unit of good. The marginal cost curve is a ‘U’ shaped curve where the costs will be high at the beginning but as the production increases the marginal costs goes down then after a point it will rise again. The marginal costs are calculated by dividing the change in total cost divided by change in quantity.
The marginal cost is calculated by the following formula.
MC=
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Economics Today: The Micro View (19th Edition) (Pearson Series in Economics)
Ch. 22 - Prob. 22.1LOCh. 22 - Prob. 22.2LOCh. 22 - Prob. 22.3LOCh. 22 - Prob. 22.4LOCh. 22 - Prob. AFCTCh. 22 - Prob. BFCTCh. 22 - Prob. CFCTCh. 22 - Prob. DFCTCh. 22 - Prob. EFCTCh. 22 - Prob. 1CTQ
Ch. 22 - Prob. 2CTQCh. 22 - Prob. 1FCTCh. 22 - Prob. 2FCTCh. 22 - Prob. 1PCh. 22 - Prob. 2PCh. 22 - Prob. 3PCh. 22 - Prob. 4PCh. 22 - Prob. 5PCh. 22 - Prob. 6PCh. 22 - Prob. 7PCh. 22 - Prob. 8PCh. 22 - Prob. 9PCh. 22 - Prob. 10PCh. 22 - Prob. 11PCh. 22 - Prob. 12PCh. 22 - Prob. 13PCh. 22 - Prob. 14PCh. 22 - Prob. 15PCh. 22 - Prob. 16PCh. 22 - Prob. 17PCh. 22 - Prob. 18PCh. 22 - Prob. 19PCh. 22 - Prob. 20PCh. 22 - Prob. 21PCh. 22 - Prob. 22PCh. 22 - Prob. 23P
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