Elucidate the marginal cost of the batch of pies

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Q. Average cost of producing 70 pies in batches of ten is $5.00 per pie and the average cost of producing 80 pies in batches of ten is $4.50 per pie. Elucidate the marginal cost of the 8th batch of pies?

Q2. Initially, suppose all retailers sell the basic version of Vista for $200. Suppose Circuit City were to raise the price at which it sells Vista to $300, but the rest of the retailers were to keep their prices the same. Which of the following would happen?

Reference no: EM1349921

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