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A 3-column table has 7 rows. The first column is labeled Bikes produced per day with entries 1, 2, 3, 4, 5, 6, 7. The second column is labeled total cost with entries 80, 97, 110, 130, 160, 210, and 270. The third column is labeled Marginal cost with all blank entries. Using this table, calculate the marginal cost of each of these quantities of bikes. The first bike: $ The fourth bike: $ The sixth bike: $ The seventh bike: $

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Answer:

Bike 1: $80

Bike 4: $20

Bike 6: $50

Bike 7: $60

Explanation:

Edge, just did the assignment.

The marginal cost of the first bike is $80

The marginal cost of the fourth bike is $20.

The marginal cost of the sixth bike is $30.

The marginal cost of the seventh bike is $50.

What is marginal cost?

Marginal cost is the additional cost generated by producing an additional unit of output. It is the change in total cost when output is increased by one unit.

What are the marginal costs?

The marginal cost of the first bike = (80 - ) / (1 - 0) = 80

The marginal cost of the fourth bike = (13020 110) / (4 - 3) = 20

The marginal cost of the sixth bike = (160 - 130) / (6 - 5) = 30

The marginal cost of the seventh bike = (210 - 160) / (7 - 6) = 50

To learn more about marginal cost, please check: https://brainly.com/question/26246533

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