The following is a table of the total cost (TC) of producing output Q for a particular firm. Based on this information, which of the following statements iscorrect?QYTC (X)101402021030265403105036060420O a. The marginal cost is higher than the average cost at Q = 50.Ob. The marginal cost at Q80 is £9.50.Oc The average cost at Q-40 is £7.Od. The marginal cost curve intersects the average cost curve at Q = 60.490860570890660100760

A table consists of quantity and total cost for a firm is provided. It is represnted in the table…

The following is a table of the total cost (TC) of producing output Q for a particular firm. Based on this information, which of the following statements is correct? Q TC (X) 10 140 20 210 30 265 40 310 50 340 60 420 O&The marginal cost is higher than the average cost at Q = 50. Ob. The marginal cost at Q-80 is £9.50. Oc The average cost at Q-40 is £7. Od. The marginal cost curve intersects the average cost curve at Q = 60. 70 60 570 90 640 100

The following is a table of the total cost (TC) of producing output Q for a particular firm. Based on this information, which of the following statements is correct? Q TC (X) 10 140 20 210 30 265 40 310 50 340 60 420 O&The marginal cost is higher than the average cost at Q = 50. Ob. The marginal cost at Q-80 is £9.50. Oc The average cost at Q-40 is £7. Od. The marginal cost curve intersects the average cost curve at Q = 60. 70 60 570 90 640 100

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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