Given the Cost Formula Y = $12,000 + $6X,what Is

question 43

Multiple Choice

Given the cost formula Y = $12,000 + $6X,what is the total cost at an activity level of 8,000 units?

• A) $12,000.
• B) $20,000.
• C) $48,000.
• D) $60,000.

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Definitions:

Marginal Benefits

The additional benefits received from consuming or producing one more unit of a good or service.

Marginal Costs

The additional cost incurred in the production of one additional unit of a good or service.

Economic Decisions

The choices made by individuals, firms, or governments regarding the allocation of resources to satisfy needs and desires.

Corporate Owners

Individuals or entities that legally own shares of stock in a corporation, thus holding ownership interests in the company.