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Economics · Theory of costs and revenue

EconomicsTheory of costs and revenueWAEC

A firm's total cost is ₦5,000 for 10 units and ₦5,450 for 11 units. Find the marginal cost of the 11th unit.

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Answer: D. ₦450

MC = 5,450 − 5,000 = ₦450.

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