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If the marginal cost of producing an additional unit is $10 and the selling pric

Practice Questions

Q1
If the marginal cost of producing an additional unit is $10 and the selling price is $15, what is the profit from selling that unit?
  1. $5
  2. $10
  3. $15
  4. $0

Questions & Step-by-Step Solutions

If the marginal cost of producing an additional unit is $10 and the selling price is $15, what is the profit from selling that unit?
  • Step 1: Identify the selling price of the unit, which is $15.
  • Step 2: Identify the marginal cost of producing the additional unit, which is $10.
  • Step 3: Calculate the profit by subtracting the marginal cost from the selling price: $15 - $10.
  • Step 4: The result of the calculation is $5, which is the profit from selling that unit.
  • Marginal Cost and Profit Calculation – Understanding how to calculate profit by subtracting marginal cost from selling price.
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