00:01
Okay, so i answered this question already in another video.
00:03
I'm pretty sure it's the same person submitting it, so hopefully that's the case.
00:07
But anyway, i'll walk you through this.
00:09
So here we have the price per doggy jacket, doggy coat sold, the quantity.
00:18
The fixed cost, which is fixed, is not going to change.
00:21
The variable cost, which is different for every single jacket in quantity.
00:27
And then once we add those together, we get the total cost.
00:31
Total cost is fixed plus variable.
00:34
And then from there, we can figure out the marginal cost.
00:36
That's just the difference between each value, basically.
00:40
So between one and two, the marginal cost is $20.
00:44
Between two and three, it's $30, $80, and so on.
00:50
So then we figure out the total revenue.
00:57
It's equal to price times quantity.
00:59
So we just multiply these numbers in these first two columns here.
01:03
We get this...