Use the table to answer the question.
Number of Workers Output Total Cost Fixed Cost Variable Cost
1 20 $300 $250 $50
2 35 $352
$250 $102
3 45 $406 $250 $156
4 50 $462 $250 $212
What is the marginal cost of producing the 45th unit of output?
To find the marginal cost of producing the 45th unit of output, we need to find the change in total cost when output increases from 44 units to 45 units.
From the table, we can see that the total cost when producing 44 units is $406. The total cost when producing 45 units is $462.
Therefore, the change in total cost is $462 - $406 = $56.
Hence, the marginal cost of producing the 45th unit of output is $56.