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Answer:
Use the information shown in the chart and the drop-down menus to answer these questions.
The marginal cost to produce the first pie is . $1.00
The marginal cost for producing the fourth pie is . $.50
The difference in marginal cost between the production of the second pie and the seventh pie is . $2.25
From the chart that is available in this question, the marginal cost of producing the second pie is $0.5.
From the chart, the marginal cost of producing each number of pie is shown.
- When 1 pie is produced, the marginal cost is $1.
- When two pies were made, the marginal cost became 0.50 dollars.
- When three pies were made the marginal cost was $0.25.
This is therefore the answer to the question. The marginal cost of producing two pies is therefore $0.50.
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