A water company has the monopoly in the water market and sells 7 units of output at $5.00 per unit and 8 units of output at $4.90 per unit. If the water company produces and sells the eighth unit, what must its marginal cost be

$4.20

Explanation:

First and foremost, the marginal cost is the cost incurred in producing an extra unit of output, in this case, the marginal cost of eight-unit is the extra cost of producing one more after 7 units have been produced

Total Cost of producing 7 units=$5.00*7=$35.00

Total Cost of producing 8 units=$4.90*8=$39.20

Marginal cost of eight unit=Total Cost of producing 8 units-Total Cost of producing  7 units

Marginal cost of eight unit=$39.20-$35.00

Marginal cost of eight unit=$4.20

1) the stages a new product goes through from beginning to end, i.e., the stages that a product passes through from introduction through growth, maturity, and decline. 2) the time from initial research and development to the time at which sales and support of the product to customers are withdrawn. 3) the period of time during which a product can be produced and marketed profitably.

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answer; customers within the organization