Answer :
Sure, let's work through these questions step-by-step using the provided table of data.
### Question 1: The marginal cost to produce the first pie is [tex]$\square$[/tex]
To find the marginal cost for producing the first pie, we look at the table:
[tex]\[ \begin{array}{|c|c|c|} \hline \text{Pies produced per day} & \text{Total cost} & \text{Marginal cost} \\ \hline \text{1 pie} & \$1.00 & \$1.00 \\ \hline \end{array} \][/tex]
From the table, we see that the marginal cost to produce the first pie is [tex]$\$[/tex]1.00[tex]$. ### Question 2: The marginal cost for producing the fourth pie is $[/tex]\square[tex]$ Next, we need to find the marginal cost for producing the fourth pie: \[ \begin{array}{|c|c|c|} \hline \text{Pies produced per day} & \text{Total cost} & \text{Marginal cost} \\ \hline \text{4 pies} & \$[/tex]2.25 & \[tex]$0.50 \\ \hline \end{array} \] From the table, the marginal cost to produce the fourth pie is $[/tex]\[tex]$0.50$[/tex].
### Question 3: The difference in marginal cost between the production of the second pie and the seventh pie is [tex]$\square$[/tex]
To find the difference in marginal cost between producing the second pie and the seventh pie, we look at the respective marginal costs:
[tex]\[ \begin{array}{|c|c|c|} \hline \text{Pies produced per day} & \text{Total cost} & \text{Marginal cost} \\ \hline \text{2 pies} & \$1.50 & \$0.50 \\ \hline \text{7 pies} & \$7.25 & \$2.75 \\ \hline \end{array} \][/tex]
The marginal cost for the second pie is [tex]$\$[/tex]0.50[tex]$ and for the seventh pie is $[/tex]\[tex]$2.75$[/tex].
To find the difference, we subtract the marginal cost of producing the second pie from the marginal cost of producing the seventh pie:
[tex]\[ \text{Difference} = \$2.75 - \$0.50 = \$2.25 \][/tex]
Putting it all together, here are the answers:
1. The marginal cost to produce the first pie is \[tex]$1.00 2. The marginal cost for producing the fourth pie is \$[/tex]0.50
3. The difference in marginal cost between the production of the second pie and the seventh pie is \$2.25
### Question 1: The marginal cost to produce the first pie is [tex]$\square$[/tex]
To find the marginal cost for producing the first pie, we look at the table:
[tex]\[ \begin{array}{|c|c|c|} \hline \text{Pies produced per day} & \text{Total cost} & \text{Marginal cost} \\ \hline \text{1 pie} & \$1.00 & \$1.00 \\ \hline \end{array} \][/tex]
From the table, we see that the marginal cost to produce the first pie is [tex]$\$[/tex]1.00[tex]$. ### Question 2: The marginal cost for producing the fourth pie is $[/tex]\square[tex]$ Next, we need to find the marginal cost for producing the fourth pie: \[ \begin{array}{|c|c|c|} \hline \text{Pies produced per day} & \text{Total cost} & \text{Marginal cost} \\ \hline \text{4 pies} & \$[/tex]2.25 & \[tex]$0.50 \\ \hline \end{array} \] From the table, the marginal cost to produce the fourth pie is $[/tex]\[tex]$0.50$[/tex].
### Question 3: The difference in marginal cost between the production of the second pie and the seventh pie is [tex]$\square$[/tex]
To find the difference in marginal cost between producing the second pie and the seventh pie, we look at the respective marginal costs:
[tex]\[ \begin{array}{|c|c|c|} \hline \text{Pies produced per day} & \text{Total cost} & \text{Marginal cost} \\ \hline \text{2 pies} & \$1.50 & \$0.50 \\ \hline \text{7 pies} & \$7.25 & \$2.75 \\ \hline \end{array} \][/tex]
The marginal cost for the second pie is [tex]$\$[/tex]0.50[tex]$ and for the seventh pie is $[/tex]\[tex]$2.75$[/tex].
To find the difference, we subtract the marginal cost of producing the second pie from the marginal cost of producing the seventh pie:
[tex]\[ \text{Difference} = \$2.75 - \$0.50 = \$2.25 \][/tex]
Putting it all together, here are the answers:
1. The marginal cost to produce the first pie is \[tex]$1.00 2. The marginal cost for producing the fourth pie is \$[/tex]0.50
3. The difference in marginal cost between the production of the second pie and the seventh pie is \$2.25
