If a Firm Spends $400 to Produce 20 Units of Output

question 65

Multiple Choice

If a firm spends $400 to produce 20 units of output and spends $880 to produce 40 units, then between 20 and 40 units of output, the marginal cost of production is:

• A)$20.
• B)$24.
• C)$22.
• D)$480.

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Definitions:

Joining

The act of becoming a member or part of a group, organization, or legal proceeding.

Accident

An unforeseen and unplanned event or circumstance, often resulting in damage or injury.

Tender Offer

A corporate finance term referring to an open offer to purchase some or all of shareholders' shares in a corporation at a specific price for a specified time.

Negative Information

Unfavorable data or facts, particularly about a person's credit history or financial status, that can affect their ability to secure loans or credit.