The licorice industry is competitve. Each firm produces two million strings of licorice per year. The strings have an average cost of $0.20 each, and they sell for $0.30.
a) What is the marginal cost of a string.
I understand the answer to the question is $0.30, but I have no idea how you would get that. It would appear to be $0.20 but I know that is wrong. Please clarify
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