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Are marginal costs rising constant or falling

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It costs our firm $1,600 to produce 6 widgets/day, $1,900 to produce 7 widgets/day, and $2,300 to produce 8 widgets/day.

(i) What is the marginal cost of the 8th widget?

(ii) Are marginal costs rising, constant, or falling? Explain in one sentence.

(iii) Given your answer to (ii), average cost is

Reference no: EM13339920

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