Tamara is a Managerial Accountant at Everything New. Everything New manufactures furniture. Tamara purchased leather to be used
1 answer:
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Answer:
$1.07
Explanation:
The marginal cost measures the change in total cost of adding on more worker divided by the change in product for this additional worker (marginal product of labor). When adding one more worker, costs will increase by $80 (wage rate), while product will increase by 75. Therefore, the marginal cost is:
The marginal cost is $1.07.
Answer: Four pies.
Explanation:
Marginal cost is the additional cost of producing one extra unit of a good or service.
From this graph we see the marginal cost rise when the first pie is produced and then it subsequently decreases as the second and third pie is produced which is where it reaches its lowest point.
From the fourth pie, the marginal cost begins to rise again which means the marginal cost begins to increase when the producer makes four pies.
