34.8k views
1 vote
A company that provides home care for the elderly is able to provide monthly services for 5 patients at a total cost of ​$2500 and monthly services for 6 patients at a cost of ​$3250. What is the marginal cost of providing monthly services for a 6th patient?

a. $500
b. $3250
c. $750
d. $1250

1 Answer

4 votes

Final answer:

The marginal cost of providing monthly services for a 6th patient is calculated by subtracting the total cost for 5 patients from the cost for 6 patients, resulting in $750.

Step-by-step explanation:

To find the marginal cost of providing monthly services for an additional patient, you would subtract the total cost for 5 patients from the total cost for 6 patients. The total cost for 5 patients is $2,500 and for 6 patients is $3,250.

Therefore, the marginal cost for the 6th patient is:

$3,250 (cost for 6 patients) - $2,500 (cost for 5 patients) = $750.

Final answer: The marginal cost of providing monthly services for a 6th patient is $750. This is found through a simple subtraction of the total costs, which gives the additional cost incurred when the 6th patient is added.

User Gerry P
by
7.8k points