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:

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Government bodies responsible for the regulation and oversight of specific areas of public and economic policy.

Legislation

Laws passed by a governing body, such as a parliament or congress, that regulate, authorize, forbid, or sanction certain actions.

Land Development

The process of improving land for residential, commercial, or industrial use.

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Relating to a city or town or its governing body.