transportation economic

In your own words, describe the meaning of marginal cost. You normally buy a crate of wine for \$75. One crate has 6 bottles of wine. After a month, the store clerk informs you that the same crate of wine now costs \$82. However, there are 7 bottles in a crate. To the nearest cent, determine the marginal cost for one additional bottle of wine now.

1. 👍 0
2. 👎 0
3. 👁 181
1. 75 / 6 = 12.5

82 / 7 = 11.71

1. 👍 0
2. 👎 0

Similar Questions

1. Algebra

83. Minimizing Marginal Cost The marginal cost of a product can be thought of as the cost of producing one additional unit of output. For example, if the marginal cost of producing the 50th product is \$6.20, it cost \$6.20 to

asked by Terry on November 3, 2011

The marginal cost of a product can be thought of as the cost of producing one additional unit of output. For example, if the marginal cost of producing the 50th product is \$6.20, it cost \$6.20 to increase productionn from 49 to 50

asked by kristina on December 3, 2012
3. Algebra

You normally buy a crate of wine for \$75. One crate has 6 bottles of wine. After a month, the store clerk informs you that the same crate of wine now costs \$82. However, there are 7 bottles in a crate. To the nearest cent,

asked by tracy on September 14, 2015
4. math/economics in calculus

The average cost of manufacturing a quantity q of a good, is defined to be a(q) = C(q)/q. The average cost per item to produce q items is given by a(q) = 0.01q2 − 0.6q + 13, for q >0. I know that the total cost is

asked by Jasmine on November 5, 2015
5. math

You are ordering photo prints online to send out to all your friends for the holidays. The first 20 prints cost 12¢ each, if you order more than 20 the price of the additional prints goes down to 8¢ each. a. Write a function to

asked by sarah on February 16, 2018
6. Micoreconomics

As a general rule, profit-maximizing producers in a competitive maket produce output at a point where: A) Marginal cost is increasing B) Marginal cost is decreasing C) marginal revenue is increasing D) Price is less then marginal

asked by G on September 1, 2008

Given that C(x)=2x^3-21x^2+36x+1000 is a cost function, determine the intervals for which the cost is increasing. Determine any intervals for which the marginal cost is increasing. Marginal cost is when you derive the cost

asked by Lindsay on December 7, 2013
8. Calculus

Given that C(x)=2x^3-21x^2+36x+1000 is a cost function, determine the intervals for which the cost is increasing. Determine any intervals for which the marginal cost is increasing. Marginal cost is when you derive the cost

asked by Lindsay on December 7, 2013
9. Microeconomics

As a general rule, profit-maximiaing producers in a competitive maket produce ouput at a point where: A) marginal cost is increasing B) marginal cost is decreasing C) marginal revenue is increasing D) price is less than marginal

asked by G on August 29, 2008
10. Social studies

Could you please check these other sets of terms. Here are the terms: scarcity cost benefit analysis marginal revenue needs incentives economy opportunity cost variable costs capitalism marginal cost food, clothing,shelter, and

asked by Sam on March 23, 2009

More Similar Questions