Monthly Output at Leisure-Time,Inc

question 20

Multiple Choice

Monthly output at Leisure-Time,Inc.changed from 12 to 13 prefabricated gazebos,and the total costs changed from $9,000 to $10,500.What is the marginal cost for this company?

• A) $1,500
• B) $2,000
• C) $1,200
• D) $10,000
• E) $12,000

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Definitions:

Total Utility

The complete satisfaction obtained from consuming a given amount of goods or services.

Investment Opportunities

Refers to financial or economic projects or assets in which an individual, company, or government can invest with the expectation of receiving future profits.

Risk Free

An investment with a certain return, with no possibility of financial loss.

Utility of Wealth

The satisfaction or benefit derived by an individual from accumulating wealth.