Based on the table above, the marginal cost of the fourth wand for Tom is: a. $5,000

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Based on the table above, the marginal cost of the fourth wand for Tom is:

a. $5,000

b. $3,500

c. $3,400

d. $2,000

e. $500

Total number of Wands 1 2 3 4 Total Benefit ($) 1,800 3,300 4,500 5,400 Total Cost ($) 500 1,000 1,500 2,000

Total number of Wands 5 6 7 Total Benefit ($) 6,000 6,400 6,600 Total Cost ($) 2,500 3,000 3,500

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Question Posted: Oct 27, 2023 11:55 PM

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