Based on the fact that Sam goes to the restaurant to buy a burger and a drink and find the value meal price, the marginal cost of the drink is $0.49.
<h3>What is the marginal cost of the drink?</h3>
The fact that Sam is considering buying a burger and chips with the drink being an afterthought means that it is the least important item in the value meal for Sam.
Its marginal cost can therefore be found as:
= Cost of value meal - price of burger - price of fries
= 4.99 - 3.00 - 1.50
= 1.99 - 1.50
= $0.49
In conclusion, the marginal cost of the drink is $0.49.
Full question is:
Sam has decided to buy a burger and fries at a restaurant, but he is considering whether to buy a drink as well. Suppose the price of a burger is $3.00, fries are $1.50, drinks are $2.00, and a value meal with all three costs $4.99. For Sam, what is the marginal cost of the drink?
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