A Firm's Total Variable Cost Increases from $4,000 to $4,020

question 142

Multiple Choice

A firm's total variable cost increases from $4,000 to $4,020 as the firm increases its output from 400 to 401 units. What is the marginal cost of producing the 401st unit?

• A) $10
• B) $4,000
• C) $20
• D) $4,020

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Definitions:

Hormones

Chemical substances produced in the body that regulate and control the activity of certain cells or organs, crucial for bodily functions.

Genes

Basic units of heredity that are made up of DNA and determine specific characteristics by encoding proteins.

Hereditary Information

consists of the genetic data and characteristics passed from parents to offspring, determining various aspects of physical appearance and predispositions to certain health conditions.

Proteins

Large biomolecules and macromolecules composed of one or more long chains of amino acid residues, crucial for the structure, function, and regulation of the body's cells, tissues, and organs.