Question

How do I calculate marginal cost?

Answer 1

Also, how do I calculate marginal revenue?

Answer 2

I was given a chart like this

Answer 3

SO what you are going do for marginal revenue is take two points right above/below each other in the total rev. column and subtract the bottom from the top.

Answer 4

An example for quantity 2 would be 38-20 and that would equal 18 and that is the marginal rev. is the quantity is 2

Answer 5

Marginal Cost is the exact same concept just using the total cost column instead

Answer 6

Make sense?

Answer 7

yes. so it's just subtraction?