Use the Following to Answer Questions: Table: Two Firms -(Table: Two Firms) If Firm 1 and Firm 2 in

question 11

Multiple Choice

Use the following to answer questions: Table: Two Firms $$\begin{array} { c c c } \hline \text { Item } & \boldsymbol { M C } \text { of Firm 1 } & \boldsymbol { M C } \text { of Firm 2 } \\\text { Number } & & \$ 2.50 \\\hline \text { First } & \$ 5 & 5.00 \\\text { Second } & 10 & 7.50 \\\text { Third } & 15 & 10 \\\text { Fourth } & 20 & \\\hline\end{array}$$
-(Table: Two Firms) If Firm 1 and Firm 2 in this table are guided by the invisible hand, the total cost (ignore fixed costs) of producing a total of 3 units of output is:

• A) $25.
• B) $12.50.
• C) $5.
• D) $15.

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