ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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Question
Consider the table below that describes the costs associated with producing a good (Q).
Q | Total Variable Cost | Total Cost |
0 | 0 | 30 |
1 | 30 | 60 |
2 | 50 | 80 |
3 | 65 | 95 |
4 | 77 | 107 |
5 | 87 | 117 |
6 | 100 | 130 |
7 | 120 | 150 |
8 | 160 | 190 |
9 | 220 | 250 |
10 | 300 | 330 |
What is the value of the marginal cost of producing the second unit? Enter your answer as a number below. Do not include a "$" sign.
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