A Firm Has a Fixed Cost of $200 in Its

question 256

Multiple Choice

A firm has a fixed cost of $200 in its first year of operation. When the firm produces 99 units of output, its total costs are $4,000. The marginal cost of producing the 100th unit of output is $700. What is the total cost of producing 100 units?

• A)$900
• B)$4,200
• C)$4,700
• D)$4,900

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Definitions:

Cognitive Restructuring

A therapeutic process aimed at identifying and changing negative or irrational thoughts and beliefs into more positive and rational ones.

Obsessive Thought

Persistent, unwanted, and intrusive ideas or impulses that can cause significant anxiety or distress.

Relaxation Technique

Strategies or exercises designed to reduce stress and anxiety, helping individuals achieve a state of calm.

Personal Space

The physical area surrounding an individual that they regard as psychologically theirs, invasion of which can lead to discomfort or anxiety.