-The Table Above Gives a Firm's Total Product Schedule

question 128

Multiple Choice

-The table above gives a firm's total product schedule. Suppose labour is the only variable factor of production. The price of labour is $500 per worker per week and total fixed costs are $600 per week. What is the marginal cost when production increases from 85 to 95 units per week?

• A) $50.00
• B) $31.61
• C) $24.92
• D) $10.00

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