Use the Table Below to Answer the Following Questions

question 9

Multiple Choice

Use the table below to answer the following questions.
Table 11.3.2

-Refer to Table 11.3.2, which gives Tania's total cost schedule. When output increases from 8 to 12 teapots, the marginal cost of one of the 4 teapots is

• A)$20.
• B)$5.
• C)$1.
• D)$6.67.
• E)$2.

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Definitions:

Price Decrease

A reduction in the cost of goods or services, often reflective of changes in supply and demand, competition, or production costs.

Personal Computers

Electronic devices designed for individual use, capable of executing a wide range of applications, from word processing and web browsing to gaming and programming.

Normal Good

A good for which demand increases as consumer income rises, and decreases as consumer income falls.

Income Increase

An income increase refers to a rise in the amount of earnings received by an individual or household, which can affect purchasing power and economic status.