A college charges a basic fee of $100 per semester plus an additional fee of $50 per credit hour. You take 10 credit hours this semester. The marginal cost to you of the 10th credit hour this semester is:

The marginal cost of the 10th credit hour this semester is:

= $50

Explanation:

a) Data and Calculations:

Basic fee (Fixed cost) per semester = $100

Additional fee per credit hour = $50

Taking 10 credit hours will cost = $600 {$100 + ($50 * 10)}

b) Marginal cost is the differential change in the total cost that is incurred when the credit hours are increased by one credit hour by the student for this semester.  It is also equal to the $50 that the college charges per credit hour.

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