If a Firm's Total Costs Are $100 When 10 Units

question 42

Multiple Choice

If a firm's total costs are $100 when 10 units of output are produced and $105 when 11 units of output are produced, the marginal cost of the 11th unit is

• A) $1.
• B) $3.
• C) $5.
• D) $9.36.

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Definitions:

Evolutionary Theory

A theory that explains the adaptation and change of species over time through natural selection and genetic variation.

Warlike

Having or showing a propensity for conflict or warfare; aggressive and militant in nature.

Minimal Intergroup

A concept in social psychology examining the minimal conditions required for discrimination to occur between groups.

Paradigm

A distinct set of concepts or thought patterns, including theories, research methods, postulates, and standards for what constitutes legitimate contributions to a field.