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QUESTION 21 (4 Marks) Table 21.1 shows a firm's cost structure. The firm produces a product which it sells in a perfectl
Posted: Wed Jul 06, 2022 5:59 am
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- Question 21 4 Marks Table 21 1 Shows A Firm S Cost Structure The Firm Produces A Product Which It Sells In A Perfectl 1 (30.93 KiB) Viewed 12 times
QUESTION 21 (4 Marks) Table 21.1 shows a firm's cost structure. The firm produces a product which it sells in a perfectly competitive market for R120 per unit. Calculate the marginal cost of the sixth (6) unit Table 21.1 Cost structure Units produced (Q) Total fixed cost Total variable cost Total cost (R) (R) (R) 0 1 2 3 4 5 6 A. R86 B. R172 C. R102 D. R120 100 564 48 216 Average cost (R) Marginal cost (R) 88 32 104