If the Marginal Costs of 1,2,and 3 Hours of Talking

question 58

Multiple Choice

If the marginal costs of 1,2,and 3 hours of talking on the phone are $50,$75,and $105,then the total costs are

• A) $50,$150,and $315.
• B) $50,$41.67,and $115.
• C) $50,125,and $230.
• D) $50,$175,and $405.
• E) impossible to calculate with information given.

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Definitions:

Income Statement

A financial statement that shows a company's revenues, expenses, and profits over a specific period, indicating the financial performance.

Balance Sheet

A financial statement that summarizes a company's assets, liabilities, and shareholders' equity at a specific point in time, giving insight into its financial position.

Statement of Cash Flows

A financial document that provides a summary of the amount of cash and cash equivalents entering and leaving a company, showing how the company raises and spends money.

Profit and Loss Statement

A financial document summarizing the revenues, costs, and expenses incurred during a specific period, typically a fiscal quarter or year.