Discussion
A machine has a market value of 30 000, will be worth 22 000 in a year, will cost 9000 to run and the rate is 10 per cent. Its marginal cost for the year is
Answer: A
Lost interest on the 30 000 of market value is 3000, the fall in that value over the year is 8000, and operating cost adds 9000, giving 20 000 in all. That figure is what one more year of the old machine actually costs the firm.
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