The Table Given Below Shows the Average Total Cost of Production

question 5

Multiple Choice

The table given below shows the average total cost of production of a firm at different levels of the output. Table 21.5
In Table 21.5, the marginal cost of producing the third unit of output is:

• A)$7.
• B)$8.
• C)$5.
• D)$4.
• E)$6.

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Definitions:

Inflict Harm

The act of causing physical, emotional, or psychological injury or damage to someone.

Informational Influence

The effect of information or data provided by others in shaping one's beliefs, opinions, or behaviors, often within a group context.

Normative Influence

Refers to the impact of societal norms on an individual's behavior, aiming to conform in order to be accepted by others.

Conforming

Adjusting one's behavior or beliefs to align with those of a group or with societal norms.