The Table Given Below Shows the Average Total Cost of Production

question 54

Multiple Choice

The table given below shows the average total cost of production of a firm at different levels of the output. Table 7.5

- In Table 7.5,the marginal cost of producing the third unit of output is:

• A)$7.
• B)$8.
• C)$5.
• D)$4.
• E)$6.

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Definitions:

Mean Standard Deviation Graph

A graphical representation that shows the variability of a dataset around its mean value, often used in statistics.

Expected Return

Expected return is the weighted average of the probable returns of an investment, accounting for all possible scenarios.

Risky Asset

An asset that carries a significant chance of losing part or all of its investment value.

Expected Profit

The forecasted amount of profit or loss that is anticipated from a business venture or investment, based on calculations or assumptions.