A company that provides home-care for the elderly is able to provide monthly services for 3...
A company that provides home-care for the elderly is able to
provide monthly services for 3 patients at a total cost of $1,500
and monthly services for 4 patients at a cost of $1,850.
What is the marginal cost of providing monthly services for a 4th
patient?
The marginal cost is $. (Enter numeric responses using an
integer.)
Homework Answers
Answer : Marginal cost of 4th patient = Total cost of 4 patients - Total cost of 3 patients = 1,850 - 1,500 = $350
Therefore, here "the marginal cost of providing monthly services for 4th patient" is $350.
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