![]() ![]() ![]() Suppose in the table to the right, workers are paid $10 per hour and there are no other costs. Total Cost, TC, is just L x 10. Marginal Cost, MC is the change in cost divided by change in output or 10 ÷ MP. As an exercise, see if you can fill in the table to the right.
When you're done you can check your answer on the following page. |
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