5. The following information relates to the cost of output of a product. Total Cost (S) 10 000 10 500 Output Level 100 101 What is the marginal cost? 6. A firm produces 29 pairs of high quality leather shoes at a fixed cost of $20 000 and a variable cost of $9 000. On producing the 30* pair, the new total cost rises to $30 000. What is the marginal cost of the 30* pair?

5. The following information relates to the cost of output of a product. Total Cost (S) 10 000 10 500 Output Level 100 101 What is the marginal cost? 6. A firm produces 29 pairs of high quality leather shoes at a fixed cost of $20 000 and a variable cost of $9 000. On producing the 30* pair, the new total cost rises to $30 000. What is the marginal cost of the 30* pair?

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter6: Proudction Costs

Section: Chapter Questions

Problem 6SQP

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