The third pair of cleats shows the marginal cost is [tex]\$1[/tex]. Thus option (C) is the correct answer.
What is a graph?
"A graph can be defined as a pictorial representation or a diagram that represents data or values in an organized manner. The points on the graph often represent the relationship between two or more things".
For the given situation,
The graph is plotted between the production of pair of cleats to the marginal cost.
The first pair of cleats shows the marginal cost is from [tex]\$2[/tex] to [tex]\$7[/tex].
The second pair of cleats shows the marginal cost is from [tex]\$2[/tex] to [tex]\$1[/tex].
The third pair of cleats shows the marginal cost is [tex]\$1[/tex].
The fourth pair of cleats shows the marginal cost is from [tex]\$4[/tex] to [tex]\$6[/tex].
Hence from the given data, the third pair of cleats shows the marginal cost is [tex]\$1[/tex]. Thus option (C) is the correct answer.
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