Use the Following to Answer Questions

question 123

Multiple Choice

Use the following to answer questions:
-(Table: Marginal Cost of Sweatshirts) Look at the table Marginal Cost of Sweatshirts. The marginal cost of the third sweatshirt is:

• A) $33.
• B) $13.
• C) $11.
• D) $9.

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Definitions:

Marginal Cost

The cost of producing one additional unit of a product or service.

Output

The total amount of goods and services produced by an economic system, company, or sector within a certain period.

Marginal Cost

The cost incurred by producing one additional unit of a good or service, which varies depending on the level of production.

Profit

The financial gain accrued from a business activity when total revenues exceed total expenses.