Question

You have decided that you want to attend a costume party as Iron Man. You estimate that it will cost $40 to assemble your costume. After spending $40 on the costume, you realize that the additional pieces you need will cost you $25 more. The marginal cost of completing the costume is

Answer 1

The marginal cost of completing the Iron Man costume, after an initial estimate of $40, is the additional $25 required for the extra pieces.

Step-by-step explanation:

The question is asking to identify the marginal cost of completing an Iron Man costume after already spending an initial sum on its construction. In the context of this scenario, marginal cost refers to the additional cost incurred when deciding to finish the costume with extra pieces that were not included in the original budget.

Since the student initially estimated the cost as $40 and then realized that additional pieces would cost $25, the marginal cost of completing the costume is the additional $25.

Answer 2

the marginal cost = $25

Step-by-step explanation:

given data

estimate cost = $40

spending on costume = $40

additional pieces cost = $25

to find out

marginal cost of completing the costume is

solution

we know here we consume $40 and we spent that all then $25 need more

so here we can say that marginal cost is the cost added for getting an additional unit of product or service

and the last products demanded costs = $25

so

therefore it is the marginal cost i.e $25