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Short Run Average and Marginal Costs

Answer the qu...

Question

Answer the questions with the help of the table given below. TFC is given to be 15.

Output
(Units) 1 2 3 4

TVC (₹) 10 10 29 40

What is the marginal cost for the 3rd unit of output?

[1 mark]

A

11

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B

10

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C

9

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D

8

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Solution

The correct option is B 10
MC = TVCn - TVCn-1
MC3 = 29 - 19 = 10

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