A Firm Has a Fixed Cost of $2,000,and at an Output

question 122

Multiple Choice

A firm has a fixed cost of $2,000,and at an output of one,variable cost is $1,500.How much is marginal cost at an output of 1?

• A)$1,000
• B)$1,500
• C)$2,000
• D)$3,500
• E)There is insufficient information to find marginal cost at an output of 1.

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Definitions:

Consumer Recognition

The ability of consumers to correctly identify a brand or product by its attributes, such as its logo, packaging, or marketing messages.

Nostalgia

is a sentimental longing or affection for the past, typically for a period or place with happy personal associations.

Marketers

Professionals or organizations that focus on promoting and selling products or services, often through research, advertising, and sales strategies.

Encoding

The process of converting information into a form that can be stored in memory, an integral step in the learning and memory process.