Demand and Total Cost of Production

question 13

Multiple Choice

Demand and Total Cost of Production

The following questions refer to the following tables which show the demand for a firm's product and the firm's total cost of production.

-Refer to Demand and Total Cost of Production.The marginal cost of producing the second unit is

• A) $4 per unit.
• B) $7 per unit.
• C) $11 per unit.
• D) $15 per unit.

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Definitions:

Tentacle

Flexible, often elongated appendages found in some animals, like octopuses and jellyfish, used for sensation, locomotion, and feeding.

Cnidarians

Cnidarians are a phylum of aquatic invertebrates that include jellyfish, corals, and sea anemones, characterized by a simple body plan with a mouth surrounded by tentacles.

Gills

Respiratory organs found in many aquatic organisms, used for the exchange of gases (oxygen and carbon dioxide) with the water.

Bivalves

Bivalves are a class of marine and freshwater mollusks that have bodies enclosed by a shell consisting of two hinged parts.