The marginal cost when the firm produces the fourth unit, can be found to be C. $ 4. 00
The marginal cost refers to the additional cost that a company incurs when it produces one more unit of a good or a service. It therefore deals with the change in total cost.
The marginal cost for the production of the fourth unit is:
= Total cost at 4 units - Total cost at 3 units
Total cost at 4 units = $19
Total cost at 3 units = $ 15
The marginal cost is therefore:
= 19 - 15
= $ 4
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