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0. Basic Principles of Economics(0)
1. Reading and Understanding Graphs(0)
2. Introductory Economic Models(0)
3. The Market Forces of Supply and Demand(0)
4. Elasticity(0)
5. Consumer and Producer Surplus; Price Ceilings and Floors(0)
6. Introduction to Taxes and Subsidies(0)
7. Externalities(0)
8. The Types of Goods(0)
9. International Trade(0)
10. The Costs of Production(0)
11. Perfect Competition(0)
12. Monopoly(0)
13. Monopolistic Competition(0)
14. Oligopoly(0)
15. Markets for the Factors of Production(0)
16. Income Inequality and Poverty(0)
17. Asymmetric Information, Voting, and Public Choice(0)
18. Consumer Choice and Behavioral Economics(0)

10. The Costs of Production

Marginal Cost

10. The Costs of Production

Marginal Cost: Videos & Practice Problems

Video Lessons Practice Worksheet

Marginal Cost Practice Problems

20 problems

1PRACTICE PROBLEM

What is the definition of marginal cost in microeconomics?

2PRACTICE PROBLEM

If the total cost of producing 100 units is $500 and the total cost of producing 101 units is $505, what is the marginal cost of the 101st unit?

3PRACTICE PROBLEM

In a pizza shop, the cost of producing 10 pizzas is $100, and the cost of producing 11 pizzas is $110. What is the marginal cost of producing the 11th pizza?

4PRACTICE PROBLEM

If hiring an additional worker increases total output from 50 to 80 units and total cost from $200 to $280, what is the marginal cost of the additional output?

5PRACTICE PROBLEM

When the marginal product of labor is increasing, what typically happens to the marginal cost of production?

6PRACTICE PROBLEM

Which type of cost primarily affects the calculation of marginal cost?

7PRACTICE PROBLEM

What is the typical shape of a marginal cost curve?

8PRACTICE PROBLEM

How do diminishing returns affect the marginal cost of production?

9PRACTICE PROBLEM

If the total cost of producing 20 units is $400 and the total cost of producing 21 units is $420, what is the marginal cost of the 21st unit?

10PRACTICE PROBLEM

Which statement best describes the role of fixed and variable costs in marginal cost analysis?

11PRACTICE PROBLEM

Why is marginal cost important in decision-making for firms?

12PRACTICE PROBLEM

If the total cost of producing 200 units is $1000 and the total cost of producing 202 units is $1040, what is the marginal cost of the additional units?

13PRACTICE PROBLEM

A bakery finds that the cost of producing 50 loaves of bread is $250, and the cost of producing 51 loaves is $255. What is the marginal cost of the 51st loaf?

14PRACTICE PROBLEM

If adding a third worker increases total output from 100 to 150 units and total cost from $500 to $600, what is the marginal cost of the additional output?

15PRACTICE PROBLEM

What happens to marginal cost when the marginal product of labor decreases due to diminishing returns?

16PRACTICE PROBLEM

Which of the following is a variable cost in the context of pizza production?

17PRACTICE PROBLEM

Why does the marginal cost curve typically have a U-shape?

18PRACTICE PROBLEM

In a factory, as more workers are hired, the additional output per worker decreases. What effect does this have on marginal cost?

19PRACTICE PROBLEM

If the total cost of producing 30 units is $600 and the total cost of producing 31 units is $620, what is the marginal cost of the 31st unit?

20PRACTICE PROBLEM

How do fixed and variable costs differ in their impact on marginal cost?

The Production Function and Diminishing Returns Practice Problems The Relationship Between Average Cost and Marginal Cost Practice Problems

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