Marginal Cost of Production
The following questions refer to the following table which shows a
firm's marginal cost of production.
Quantity (number of units) |
1 |
2 |
3 |
4 |
5 |
6 |
7 |
8 |
Marginal Cost (dollars per unit) |
3 |
4 |
6 |
9 |
13 |
18 |
24 |
31 |
Refer to Marginal Cost of Production. If the firm has $20 in fixed
costs, producing 4 units generates variable costs of
Question 17 options:
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Answer= $22
reason- Fixed cost doesn't affect marginal cost.
If the firm produces 4 units.
MCn=TVCn-TVCn-1
So variable cost for 4 units is the sum of marginal cost till Q=4.
Variable cost = $3+$4+$6+$9=$22
Marginal Cost of Production The following questions refer to the following table which shows a firm's...
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The graph shows the marginal costs of chemical production. Cost (dollars per ton) Draw an arrow to show the marginal external cost of producing the 3rd ton of chemicals in a week. cost is the cost of producing an additional unit of a good O A. that falls on people other than the producer of the good O B. that is borne by the buyer of the good that falls on the entire society C, O D. that is borne...
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Refer to the table below. Quantity Cost (in dollars) Fixed Costs (in dollars) Total Costs (in dollars) Average Total Costs (in dollars per unit) Average Variable Costs (in dollars per unit) Marginal Costs (in dollars per unit) 0 0 40 40 - - - - - - 1 1 40 55 15 55 15 2 35 40 75 17.5 37.5 20 3 60 40 100 20 33.3 25 4 90 40 130 22.5 32.5 30 5 125 40 155...
e total cost 19. For a certain firm, the 10th unit of output marginal cost of Sto. It follows that the production of the 10th it fo r of outputut the firm produse marinat revenue of land them the firm's profi not the 100th unit of t h e firm's average total costs C. Firm's profit-maximize ve futut is less than 100 units. d. production of the 101st unit of output the lost unit of output must increase the firm's...
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