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Costs for producing pounds of steak are shown in the table below. Labor Quantity Fixed Cost Variable Cost Total Cost Marginal Cost Average Total Cost

Costs for producing pounds of steak are shown in the table below. Labor Quantity Fixed Cost Variable Cost Total Cost Marginal Cost Average Total Cost 0 0 $ 50 $ 0 $ 50 1 10 $ 50 $ 30 $ 80 2 24 $ 50 $ 60 $ 110 3 49 $ 50 $ 90 $ 140 4 70 $ 50 $ 120 $ 170 5 82 $ 50 $ 150 $ 200 Calculate the marginal cost of the 24 t h pound of steak produced. Round your answer to the nearest hundredth

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