The following information is about the production of rice in pounds. Answer the following question: How...

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The following information is about the production of rice in pounds. Answer the following question: How much is the marginal cost when the production of rice is 22.05 pounds? Remember that costs, revenues and profits are measured in dollars and cents. Q TC 0 $161.70 7.35 $330.75 14.7 $485.10 22.05 $624.75 29.4 $735.00 36.75 $837.90 44.1 $926.10 51.45 $1,036.35 58.8 $1,176.00 66.15 $1,345.05 73.5 $1,543.50 80.85 $1,800.75 88.2 $2,205.00 95.55 $2,646.00 The following information is about the production of rice in pounds. Answer the following question: How much is the marginal cost when the production of rice is 22.05 pounds? Remember that costs, revenues and profits are measured in dollars and cents. Q TC 0 $161.70 7.35 $330.75 14.7 $485.10 22.05 $624.75 29.4 $735.00 36.75 $837.90 44.1 $926.10 51.45 $1,036.35 58.8 $1,176.00 66.15 $1,345.05 73.5 $1,543.50 80.85 $1,800.75 88.2 $2,205.00 95.55 $2,646.00

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Step 1 Define marginal cost Marginal cost MC is the additional unit that is ... View the full answer