Homework Answers
Cost to produce 10 T-shirts = $112.59
Cost to produce 40 T-shirts = $401.58
Change in output = 40 - 10
= 30 units
Change in cost = Cost to produce 40 T-shirts - Cost to produce 10 T-shirts
= 401.58 - 112.59
= $288.99
Marginal cost of a T-shirt = Change in cost/Change in output
= 288.99/30
= $9.63
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