william installs custom sound systems in cars. if he installs seven systems per day, his total costs are $300. if he installs eight systems per day, his total costs are $400. william will install only eight sound systems per day if the eighth customer is willing to pay at least:

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25-10-2022
Business

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william installs custom sound systems in cars. if he installs seven systems per day, his total costs are $300. if he installs eight systems per day, his total costs are $400. william will install only eight sound systems per day if the eighth customer is willing to pay at least:

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contexto38 contexto38 · Answer 1 · 2022-10-28T04:39:38-04:00

Only if the eighth client is prepared to spend at least $100 will William install eight sound systems in a single day.

William charges $300 to install seven systems each day.

William spends $400 to build 8 systems each day.

Keep in mind that if the marginal cost curve is upward-sloping, marginal costs will rise along with output.

The additional expense incurred while creating an extra unit of output is known as the marginal cost.

Finding the eighth customer's supplementary payment is the next step.

Change in marginal cost = Cost incurred in installing 8 systems - cost incurred in installing 7 system

Change in marginal cost = $400 - $300

∴ Change in marginal cost = $100

William will only install eight sound systems each day if the eighth customer is willing to pay at least $100 because when output grows, the marginal cost rises by $100.

To learn more about marginal cost

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