If the production of 25 sets of binoculars per day costs a firm $1,500.00 and the production of 26 sets of binoculars per day c
osts a firm $1,550.00, the marginal cost of producing 26 rather than 25 sets of binoculars per day is _________.A) $50.00. B) $60.00.
C) $55.00.
D) $59.62.
Marginal costs refer to the additional expense incurred in the manufacturing of one more unit of a product. It is the incremental cost associated with producing an extra unit of a good.
