A firm is currently producing 10 units. Its fixed costs are $100 and its variable costs are $40. When it produces 11 units total cost increases to 147. From this we can deduce that the marginal cost of the 11th unit equals_____________
A firm is currently producing 10 units. Its fixed costs are $100 and its variable costs are $40. When it produces 11 units total cost increases to 147. From this we can deduce that the marginal cost of the 11th unit equals_____________
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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A firm is currently producing 10 units. Its fixed costs are $100 and its variable costs are $40. When it produces 11 units total cost increases to 147. From this we can deduce that the marginal cost of the 11th unit equals_____________
A. |
none of the above |
|
B. |
14.7 |
|
C. |
147 |
|
D. |
7 |
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