When a Firm Produces 50,000 Units of Output, Its Total

question 207

Multiple Choice

When a firm produces 50,000 units of output, its total cost equals $6.5 million.When it increases its production to 70,000 units of output, its total cost increases to $9.4 million.Within this range, the marginal cost of an additional unit of output is

• A)$41.43.
• B) $134.29.
• C)$135.
• D)$145.

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Definitions:

Groups

Collections of individuals who come together to achieve a common goal or share a common interest.

Solo Individuals

Refers to single persons functioning independently from groups or collectives in a social or professional setting.

Duration

The length of time that something continues or exists.

ODDI Process Model

Stands for Orientation, Disintegration, Reorientation, and Integration, a model describing the stages of adapting to change or resolving conflicts within groups.