The table below gives a firm's costs. Output Fixed costs ($) Total costs ($) $80 $50 1 $80 $55 2 $80 $62 3. $80 $72 $80 $88 $80 $110 What is the marginal cost of expanding production from 4 units to 5 units? Choose one: A $22 B. $80 OC. $16 D. $O E. $10 OF. $110 OG. $7

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Chapter1: Making Economics Decisions
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The table below gives a firm's costs.
Output
Fixed costs ($)
Total costs ($)
$80
$50
1
$80
$55
$80
$62
$80
$72
4.
$80
$88
$80
$110
What is the marginal cost of expanding production from 4 units to 5 units?
Choose one:
OA $22
O B. $80
O C. $16
O D. $0
O E. $10
O F. $110
O G. $7
Transcribed Image Text:The table below gives a firm's costs. Output Fixed costs ($) Total costs ($) $80 $50 1 $80 $55 $80 $62 $80 $72 4. $80 $88 $80 $110 What is the marginal cost of expanding production from 4 units to 5 units? Choose one: OA $22 O B. $80 O C. $16 O D. $0 O E. $10 O F. $110 O G. $7
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