A Firm Producing 10 Units of Output Incurs a Total

question 38

Multiple Choice

A firm producing 10 units of output incurs a total cost of $800.When it produces 11 units,the total cost increases to $890.What is the marginal cost of producing the eleventh unit?

• A) $10
• B) $80
• C) $90
• D) $100

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Definitions:

Canada Customs

The federal agency responsible for regulating goods that enter or leave Canada, ensuring compliance with customs regulations.

Tokyo Stock Exchange

The primary stock exchange in Japan, one of the largest in the world by market capitalization, where stocks of publicly held companies are issued and traded.

Exchange Rate

The conversion rate of one currency to another.

Weakens

Becomes less strong or potent; in economic terms, can refer to a currency's decrease in value relative to others.