Costs for producing pounds of steak are shown in the table below. Labor Quantity Fixed Cost...

Transcribed Image Text:

Costs for producing pounds of steak are shown in the table below. Labor Quantity Fixed Cost Variable Cost Total Cost 0 0 1 10 2 24 49 70 82 3 4 5 $50 $50 $50 $50 $50 $50 $0 $30 $60 $90 $120 $150 $50 $80 $110 $140 $170 $200 Marginal Average Cost Total Cost Calculate the marginal cost of the 24th pound of steak produced. Round your answer to the nearest hundredth. Costs for producing pounds of steak are shown in the table below. Labor Quantity Fixed Cost Variable Cost Total Cost 0 0 1 10 2 24 49 70 82 3 4 5 $50 $50 $50 $50 $50 $50 $0 $30 $60 $90 $120 $150 $50 $80 $110 $140 $170 $200 Marginal Average Cost Total Cost Calculate the marginal cost of the 24th pound of steak produced. Round your answer to the nearest hundredth.

Answer rating: 100% (QA)

To calculate the marginal cost of the 24th pound of steak produc... View the full answer