When a firm produces 50,000 units of output, its total cost equals $6.5 million. When it increases its production to 70,000 units of output, its total cost increases to $9.4 million. Within this range, the marginal cost of an additional unit of output is
A) $41.43.
B) $134.29.
C) $135.
D) $145.
Answer: D
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Which among the following will happen if the Fed buys bonds from a private bank?
A) The private bank's total assets will decrease. B) The Fed's total assets will decrease. C) The private bank's total assets will increase. D) The Fed's total liabilities will increase.
Resource owners will supply additional units of a resource as long as doing so
a. decreases their opportunity cost b. increases their income c. increases their utility d. decreases their income taxes e. improves their working conditions
What is being displayed in the two graphs in Marginal Product and Marginal Costs?
a. When the cost of producing one more unit increases, then the marginal product is growing.
b. When the marginal product is falling, then the average total cost of output is falling.
c. When the marginal product is growing, the cost of producing one more unit is falling.
d. When the change in output per unit of input is growing then marginal costs are growing.
Total Expenditure equals
What will be an ideal response?