Examlex
The average total cost when 5 units of output are produced is $30,and the marginal cost of the sixth unit of output is $60.What is the average total cost when six units are produced?
Additional Slice
Generally refers to an extra portion or piece of something, often used metaphorically to describe an additional amount or increment of a resource or benefit.
Marginal Utility
The extra pleasure or benefit gained from the consumption of an additional unit of a product or service.
Total Utility
The overall satisfaction or benefit received by consuming a particular quantity of goods or services.
Marginal Utility
The change in satisfaction or utility gained by consuming an additional unit of a good or service.
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