00:01
So when we're talking about marginal cost, we're talking about the margins of something.
00:05
The marginal is just what happens with one additional unit of something.
00:13
One additional unit of something.
00:18
And i'm going to call that something x just as a placeholder.
00:20
When we're talking about cost, we're talking about, you know, what do you have to give up? what do you have to pay in order to get something? so this is just cost.
00:33
So when we're talking about marginal cost, it is what do you have to pay in order to get one additional unit of x? so in order to calculate this, you would take, so if you are thinking about the marginal cost of workers, laborers, okay? you can have l and you can have the cost.
00:53
For one worker, two worker, three workers, and four workers, okay, for the first worker, you pay them.
00:59
$25.
01:01
For two workers, you pay a total of $50...