Question 1 Output (Q) Total Fixed Cost (TFC) Total Variable cost (TVC) 0 100 0 1 100 50 2 100 125 3 100 205 4 100 295 5 100 395 Which of the following is true of marginal costs, based on the data in the table above? 1. Marginal costs are rising throughout the output range shown. 2. Marginal costs are falling throughout the output range shown. 3. Marginal costs are constant
Question 1 Output (Q) Total Fixed Cost (TFC) Total Variable cost (TVC) 0 100 0 1 100 50 2 100 125 3 100 205 4 100 295 5 100 395 Which of the following is true of marginal costs, based on the data in the table above? 1. Marginal costs are rising throughout the output range shown. 2. Marginal costs are falling throughout the output range shown. 3. Marginal costs are constant
Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter7: Proudction Costs
Section: Chapter Questions
Problem 9SQP
Related questions
Question
Question 1
Output (Q) |
Total Fixed Cost (TFC) |
Total Variable cost (TVC) |
0 |
100 |
0 |
1 |
100 |
50 |
2 |
100 |
125 |
3 |
100 |
205 |
4 |
100 |
295 |
5 |
100 |
395 |
Which of the following is true of marginal costs, based on the data in the table above?
1. Marginal costs are rising throughout the output range shown.
2. Marginal costs are falling throughout the output range shown.
3. Marginal costs are constant
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