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If the average total cost of producing 2 pounds of cheese is $4 and the average total cost of producing 3 pounds of cheese is $4.2, then the marginal cost of producing third pound of cheese is equal to:

Respuesta :

Answer:

$4.6

Explanation:

The computation of the marginal cost of third-pound is shown below:-

Total cost of 2 pounds = Average total cost  Output

= 2 × $4

= $8

Total cost of pounds = Average total cost × Output

= 3 × $4.2

= $12.6

So,

Total cost of third pound = Total cost of pounds - Total cost of 2 pounds

= $12.6 - $8

= $4.6

Therefore, for computing the total cost of third pound we simply deduct total cost of 2 pounds  from total cost of pounds.

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