Question

Using the table, calculate the marginal cost of each quantity of shoe inserts.

The first pair: $

The third pair: $

The fifth pair: $

Answer 1

I don't see the table you mentioned. To calculate marginal cost you need the total-cost values from the table.

Formula/steps:
- Marginal cost of the nth pair = Total Cost at n pairs − Total Cost at (n−1) pairs.
- So:
- First pair: MC1 = TC(1) − TC(0)
- Third pair: MC3 = TC(3) − TC(2)
- Fifth pair: MC5 = TC(5) − TC(4)

If you paste the table or the TC(0), TC(1), TC(2), TC(3), TC(4), TC(5) numbers, I’ll compute those three marginal costs for you.

Example (illustration only): if TC(0)=\$0, TC(1)=\$2, TC(2)=\$3.50, TC(3)=\$5, TC(4)=\$6.80, TC(5)=\$8.50 then
- MC1 = \$2 − \$0 = \$2
- MC3 = \$5 − \$3.50 = \$1.50
- MC5 = \$8.50 − \$6.80 = \$1.70