quantity total cost what's the marginal cost?
0 8
2 9
4 10
6 11
8 13
10 19
12 27
14 37
To calculate the marginal cost, you need to find the change in total cost for each unit change in quantity. Marginal cost is the additional cost incurred when producing one more unit.
To find the marginal cost for each change in quantity, you can use the formula:
Marginal Cost = (Change in Total Cost) / (Change in Quantity)
Let's calculate the marginal cost for each change in quantity based on the given data:
For 0 to 2 units:
Change in Total Cost = 9 (Total Cost at 2 units) - 8 (Total Cost at 0 units) = 1
Change in Quantity = 2 - 0 = 2
Marginal Cost = 1 / 2 = 0.5
For 2 to 4 units:
Change in Total Cost = 10 (Total Cost at 4 units) - 9 (Total Cost at 2 units) = 1
Change in Quantity = 4 - 2 = 2
Marginal Cost = 1 / 2 = 0.5
For 4 to 6 units:
Change in Total Cost = 11 (Total Cost at 6 units) - 10 (Total Cost at 4 units) = 1
Change in Quantity = 6 - 4 = 2
Marginal Cost = 1 / 2 = 0.5
For 6 to 8 units:
Change in Total Cost = 13 (Total Cost at 8 units) - 11 (Total Cost at 6 units) = 2
Change in Quantity = 8 - 6 = 2
Marginal Cost = 2 / 2 = 1
For 8 to 10 units:
Change in Total Cost = 19 (Total Cost at 10 units) - 13 (Total Cost at 8 units) = 6
Change in Quantity = 10 - 8 = 2
Marginal Cost = 6 / 2 = 3
For 10 to 12 units:
Change in Total Cost = 27 (Total Cost at 12 units) - 19 (Total Cost at 10 units) = 8
Change in Quantity = 12 - 10 = 2
Marginal Cost = 8 / 2 = 4
For 12 to 14 units:
Change in Total Cost = 37 (Total Cost at 14 units) - 27 (Total Cost at 12 units) = 10
Change in Quantity = 14 - 12 = 2
Marginal Cost = 10 / 2 = 5
Therefore, the marginal cost for each change in quantity is:
0 to 2 units: 0.5
2 to 4 units: 0.5
4 to 6 units: 0.5
6 to 8 units: 1
8 to 10 units: 3
10 to 12 units: 4
12 to 14 units: 5