Use the Above Table and Assume a Fixed Cost of

question 34

Multiple Choice

$$\begin{array} { c c c c c c c } & \text { Variable } & \text { Total } & & & & \text { Marginal } \\\text { Output } & \text { Cost } & \text { Cost } & \text { AFC } & \text { AVC } & \text { ATC } & \text { Cost } \\1 & 400 & & & & & \\2 & 700 & & & & & \\3 & 1,000 & & & & & \\4 & 1,400 & & & & &\end{array}$$ Use the above table and assume a fixed cost of $1000.
-At an output of 1,marginal cost is

• A)0.
• B)$200.
• C)$300.
• D)$400.

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Definitions:

Invitation

A written or verbal request to someone to go somewhere or to do something.

Submit Bids

The process of offering a specified price for goods or services, especially in the context of auctions or competitive tenders.

Reasonable Period

An amount of time which is fairly appropriate under the circumstances, often subject to interpretation based on the specific context.

Exact Period

A specific timeframe during which certain actions are to take place or conditions must be met.