Table 1 The following table presents cost and revenue information for Soper’s Port Vineyard. COSTS REVENUES Quantity Produced Total Cost Marginal Cost Quantity Demanded Price Total Revenue Marginal Revenue 0 100 -- 0 120 -- 1 150 1 120 2 202 2 120 3 257 3 120 4 317 4 120 5 385 5 120 6 465 6 120 7 562 7 120 8 682 8 120 Refer to Table 1 . Consumers are willing to pay $120 per unit of port wine. What is the marginal cost of the 1st unit?