Question

Using this table, calculate the marginal cost of each of

these quantities of bikes.

The first bike: $
The fourth bike: $
The sixth bike: $
The seventh bike: $

!! Someone please explain how to find the marginal cost, like what is the formula

Answer 1

First bike: $80

Forth bike: $20

Sixth bike: $50

Seventh bike $60

Answer 2

See below

Step-by-step explanation:

Marginal cost is the additional expenses incurred in producing one more unit of output. Marginal cost is the expenses associated with the production of one extra unit.

In this case, there will be marginal costs in producing the first item. There is no extra unit in the first unit. Marginal costs will be zero. The second item's marginal cost will be the difference between the cost of the second and the first item.

First bike

=0

The fourth bike:

=Forth bike - third bike

=$130 -$110

= $20

The sixth bike

=sixth - fifth

=$210 -$160

=$50

The seventh bike

=seventh - sixth

=$270 -$210

=$60