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A company produces 1,000 units of a product at a total cost of $10,000. If the f
A company produces 1,000 units of a product at a total cost of $10,000. If the fixed costs are $4,000, what is the marginal cost per unit?
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Q1
A company produces 1,000 units of a product at a total cost of $10,000. If the fixed costs are $4,000, what is the marginal cost per unit?
$6.00
$4.00
$10.00
$8.00
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Marginal cost = (Total cost - Fixed costs) / Number of units = ($10,000 - $4,000) / 1,000 = $6.00
Questions & Step-by-step Solutions
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Q
Q: A company produces 1,000 units of a product at a total cost of $10,000. If the fixed costs are $4,000, what is the marginal cost per unit?
Solution:
Marginal cost = (Total cost - Fixed costs) / Number of units = ($10,000 - $4,000) / 1,000 = $6.00
Steps: 5
Show Steps
Step 1: Identify the total cost of producing the product, which is $10,000.
Step 2: Identify the fixed costs, which are $4,000.
Step 3: Calculate the variable costs by subtracting fixed costs from total costs: $10,000 - $4,000 = $6,000.
Step 4: Identify the number of units produced, which is 1,000.
Step 5: Calculate the marginal cost per unit by dividing the variable costs by the number of units: $6,000 / 1,000 = $6.00.
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