Business Objectives

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Question 17

Table 1: Production Costs of a Firm

Quantity	Average Cost
148	£121
149	£118
150	£122
151	£127
152	£133

A firm is considering increasing its output from 149 to 150 units of a good, as shown in Table 1. What is the marginal cost of doing this?

£4

£718

£18,300

£1.22