-Figure 7-7 Shows a Firm's Total Variable Cost for Different

question 125

Multiple Choice

-Figure 7-7 shows a firm's total variable cost for different daily output levels.In addition,the firm has total fixed cost of $50 per day.If output increases from 20 to 30 units,average total cost rises from

• A)$17.50 to $19.17,and marginal cost is $225.00
• B)$400 to $625,and marginal cost is $225.00
• C)$15.00 to $22.50,and marginal cost is $22.50
• D)$20.00 to $20.83,and marginal cost is $22.50
• E)$20.00 to $20.83,and marginal cost is $225.00

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Definitions:

Stagnation

A period or state of inactivity or lack of growth and development.

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A state of being where an individual lacks financial, social, or emotional resources, significantly impacting their quality of life.

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A model that outlines five broad dimensions of human personality: openness, conscientiousness, extraversion, agreeableness, and neuroticism.

Selflessness

The quality of being more concerned with the needs and wishes of others than with one's own; altruism.