The Table Given Below Shows the Average Total Cost of Production

question 65

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, what is the total cost of producing 4 units?

• A)$28
• B)$10
• C)$15
• D)$20
• E)$35

Comprehend the adaptations plants have for living in saline environments and the implication of these adaptations for habitat selection.

Identify the processes through which plants naturally produce insecticides in response to damage or threats.

Distinguish between various plant adaptations to environmental stresses, such as toxins, water scarcity, and oxygen-poor soils.

Understand the concept of phytoremediation and its applications in environmental science.

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Definitions:

Additional Unit

In economics, refers to the next item or unit of production, used in analyzing the costs and benefits of producing one more unit of a good or service.

Average Total Cost

The total cost of production (fixed plus variable costs) divided by the total quantity produced, representing the cost per unit of output.

Monopolist Profit

The profit earned by a monopolist, which arises from controlling the market supply of a good or service and setting prices above marginal costs.

Maximize Profits

The process or strategy of adjusting production or operations to generate the highest possible financial gain.