ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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QUESTION 15
Imagine a small juice producer named "Bilberry Infused Beverages" known for its refreshing beverages. The
owner, Louis, keeps track of the production costs. Recently he decided to expand his operations and produce
more Juices to meet the increasing demand. Table 15.1 below shows the data he has collected: Complete
Table 15.1 below and use the information to answer the question that follows.
Table 15:1 Production Costs for Bilberry Infused Beverages
(4 Marks)
Output
0
Total cost
30
Fixed cost
Variable
cost
Marginal Average
cost
Average
cost
fixed cost
0
1
10
18
3
22
4
56
5
64
6
B
76
7
8
15
15
What is the marginal cost of producing the 8th unit of the good?
a) 4
b) 10
c) 12
d) 29
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Transcribed Image Text:QUESTION 15 Imagine a small juice producer named "Bilberry Infused Beverages" known for its refreshing beverages. The owner, Louis, keeps track of the production costs. Recently he decided to expand his operations and produce more Juices to meet the increasing demand. Table 15.1 below shows the data he has collected: Complete Table 15.1 below and use the information to answer the question that follows. Table 15:1 Production Costs for Bilberry Infused Beverages (4 Marks) Output 0 Total cost 30 Fixed cost Variable cost Marginal Average cost Average cost fixed cost 0 1 10 18 3 22 4 56 5 64 6 B 76 7 8 15 15 What is the marginal cost of producing the 8th unit of the good? a) 4 b) 10 c) 12 d) 29
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