A Firm Has a Fixed Cost of $500 in Its

question 551

Multiple Choice

A firm has a fixed cost of $500 in its first year of operation. When the firm produces 100 units of output, its total costs are $4,500. The marginal cost of producing the 101st unit of output is $300. What is the total cost of producing 101 units?

• A)$46.53
• B)$800
• C)$4,800
• D)$5,300

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Definitions:

Terminal 4

Often refers to a specific connector or terminal point in an electrical device or circuit, but the exact meaning can vary depending on the context of use.

Logic Circuits

Electronic circuits designed to implement various boolean functions like AND, OR, NOT, NAND, and NOR, crucial in digital computing.

Processor Unit

The component of a computer or electronic system responsible for executing instructions, performing calculations, and managing data.

Human Machine Interface

A user interface or dashboard that connects a person to a machine, system, or device, allowing for control and data exchange.