QUESTION 2 In the short run, a perfectly compeutive firm's produce at its profit maximizing level of output at 15 units. Its average fixed cost is £1,500 at this level of output. Assume that its average variable cost is constant at £4,000 per output in the short run. What is this firm's marginal cost (MC) of producing the 15th unit of output from 14th? O A. £6,500 O B. £4,000 OC. E5,500 O D.E5,000

QUESTION 2 In the short run, a perfectly compeutive firm's produce at its profit maximizing level of output at 15 units. Its average fixed cost is £1,500 at this level of output. Assume that its average variable cost is constant at £4,000 per output in the short run. What is this firm's marginal cost (MC) of producing the 15th unit of output from 14th? O A. £6,500 O B. £4,000 OC. E5,500 O D.E5,000

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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