Assume the total cost of producing widgets was $4200 for 42 units; $4257 for 43 units; $4332

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Assume the total cost of producing widgets was $4200 for 42 units; $4257 for 43 units; $4332 for 44 units; and $4420 for 45 units.

a. What is the marginal cost of producing the 43rd unit? The 45th unit?

b. If the widget producer could sell at $60 per unit however many he could produce, how many would he choose to produce? If he could sell at $80 per unit however many he could produce? Explain.

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Exploring Microeconomics

ISBN: 9780176531072

4th Edition

Authors: Robert L. Sexton

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Question Posted: Oct 12, 2024 07:03 AM

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Assume the total cost of producing widgets was $4200 for 42 units; $4257 for 43 units; $4332

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Exploring Microeconomics

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