Question

The marginal cost of the 30th sleeping bag is​ ______.   

a. the price received when the 30th sleeping bag is sold
b. the value of the 30th sleeping bag
c. the producer surplus earned on the 30th sleeping bag
d. the minimum price that producers must receive to induce them to sell the 30th sleeping bag

Answer 1

The marginal cost of the 30th sleeping bag is the minimum price that producers must receive to induce them to sell the 30th sleeping bag .

Step-by-step explanation:

We have to remember that marginal cost is the amount of money that it will cost a producer to produce one or more additional units of a certain product and the cost that that would represent for their finances, sometimes the marginal cost is almost inexistent, other it would just include the basic materials needed for teh creation of the product, in this case the marginal cost would represent the minimum price that producers must receive to induce them to sell the 30th sleeping bag.

Answer 2

Choice (b) is correct. Marginal cost is the cost added when an activity is made in producing another product. Thus, the cost of one product is the value of the product without regard whether it was produced at the beginning, middle, or at the end.