Suppose That the Total Cost (In Dollars) for a Product

question 135

Multiple Choice

Suppose that the total cost (in dollars) for a product is given by , where x is the number of units produced. Find the marginal cost when 500 units are produced, and interpret your result. Round your answer to the nearest cent. ​

• A) $0.80. It will cost approximately $0.80 to make the 501st unit.
• B) $0.31. It will cost approximately $0.31 to make the 501st unit.
• C) $0.40. It will cost approximately $0.40 to make the 501st unit.
• D) $380.95. It will cost approximately $380.95 to make the 501st unit.
• E) $1.00. It will cost approximately $1.00 to make the 501st unit.

Evaluate the effects of labor force participation on family structure and lifestyle.

Comprehend the various functionalist perspectives on the societal roles of family and religion.

Understand the fundamental concepts of costs in economics including total fixed costs (TFC), total variable costs (TVC), and total costs (TC).

Comprehend the significance of sunk costs and its implications for business decision-making.

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Definitions:

External Locus

The belief that one's successes or failures result from external factors beyond their control, rather than one's own efforts.

Conditional Positive Regard

Conditional positive regard is when acceptance and love are contingent upon behaving in a certain way or meeting particular standards, often discussed in psychology.

Role Model

A person to whom an individual can look to for guidance by example, but who isn’t necessarily actively interacting with the individual.

Procrastinating

The action of delaying or postponing tasks despite knowing there will be negative consequences for doing so.