If Fixed Cost Is $8,000,variable Cost Is $5,000 at an Output

question 10

Multiple Choice

If fixed cost is $8,000,variable cost is $5,000 at an output of 2 and $9,000 at an output of 3,how much is marginal cost at an output of 3?

• A)$3,000
• B)$4,000
• C)$5,000
• D)$8,000
• E)There is not enough information to determine marginal cost at an output of 3.

Develop skills in summarizing data sets using statistical measures.

Enhance problem-solving skills through statistical calculations.

Identify and understand different training methods and their applications.

Understand the evaluation process of training programs.

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Definitions:

Costs

The expenses associated with a project, program, or intervention, including direct, indirect, fixed, and variable costs.

Precision Required

A necessity for accuracy and specificity in data, measurements, or outcomes.

Margin of Error

A statistic expressing the amount of random sampling error in a survey's results, indicating the range of accuracy.

Null Hypothesis

A hypothesis in statistical testing that suggests there is no statistical significance between the specified sets of observations, effectively stating that any observed difference is the result of random chance.