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:

Prior Incidents

prior incidents refer to events or situations that have happened in the past, often used as reference points in decision-making or assessing risk.

Arbitration

A form of alternative dispute resolution where a neutral third party, the arbitrator, makes a decision to resolve a dispute, often used in labor disputes to avoid court litigation.

Court Hearing

A proceeding before a judge or judicial officer in which legal issues, evidences, and arguments are presented to determine a solution to a legal dispute.

Conflict Resolution

A process of resolving disputes or disagreements between parties, often involving negotiation, mediation, or arbitration to achieve a peaceful solution.