Homework Answers
second unit of output.
(MP is diminishing when MC is rising.
Marginal cost, MC = Change in TVC
So beyond 2nd unit, MC is rising. Thus, MP is diminishing.
For 1st unit, MC = 50 - 0 = 50
For 2nd unit, MC = 75 - 50 = 25
For 3rd unit, MC = 105 - 75 = 30
So, diminishing MP starts from 2nd unit.)
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