The Table Below Shows How Total Cost Varies with Output

question 8

Multiple Choice

The table below shows how total cost varies with output in a factory producing bicycles. Based on the table, the marginal cost of producing the fourth bicycle equals _____.Table 6-6

• A)$4.50
• B)$4
• C)$3
• D)$2.50
• E)$3.50

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Definitions:

Entrepreneur Angels

Wealthy individuals who provide capital for startups, usually in exchange for ownership equity or convertible debt.

Active Involvement

Participation that is fully engaged and contributory towards a project or activity.

Companies

Organizations engaged in commercial, industrial, or professional activities, structured as entities to conduct business.

Enthusiast Angels

Individual investors who are passionate about a startup's industry or mission and invest their personal funds and sometimes expertise, in the early stages of the company's growth.