Suppose That a Firm's Total Costs of Production Are 0

question 37

Multiple Choice

Suppose that a firm's total costs of production are 0 at an output of zero, 10 at an output of 1, 20 at an output of 2 units, 30 at an output of three units, 35 at an output of four units and 37 at an output of five units. At which number of units are marginal and average costs equal?

• A)The first unit.
• B)The fifth unit.
• C)The third unit.
• D)At the first, second and third units.

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Definitions:

Republicans

A member or supporter of the Republican Party, one of the two major political parties in the United States, traditionally emphasizing limited government, individual freedoms, and free-market policies.

New Deal Democrats

A reference to the followers and supporters of Franklin D. Roosevelt's New Deal programs in the 1930s, advocating for government intervention in the economy to address the Great Depression.

Conservative Democrats

A faction within the Democratic Party in the United States that tends to hold more traditional or conservative views compared to the broader party, especially on social and economic issues.

Harry Hopkins

A close advisor to President Franklin D. Roosevelt during the Great Depression and World War II, prominently involved in the New Deal and Lend-Lease programs.