Marginal functions II

Suppose the first four units of a variable input generates corresponding total outputs of 200, 350, 450, 500. The marginal product of the third unit of input is:

• 50

• 100

• 150

• 200

• 15

• 50

• 20

• 25

• 30

What does marginal cost tell us?

• Is cost from fixed input

• Is variable cost

• The increase in output that arises from an additional unit of input

• The increase in total cost that arises from producing an additional unit of output

How it was?

• a. Interesting

• b. Difficult

• Both a & b

• None of them

• Yes

• 0