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23 April, 19:13

An entrenpeneur knits sweaters for sale. The entrenpeneur has fixed costs of $100. When he makes 10 sweaters in one month, he must spend $15 on wool. When he makes 11 sweaters in one month, he must spend $17 on wool. If he has no other cost, what is the marginal cost?

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  1. 23 April, 19:39
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    marginal cost = $2

    Explanation:

    given dа ta:

    cost on wool when 10 sweater made in one month = $15

    cost on wool when 11 sweater made in one month = $17

    fixed cost = $100

    In case of no other cost present, marginal cost is given by

    Marginal cost = cost of eleven sweaters - cost of ten sweaters

    = $17 - $15

    = $2
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