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. $7
The table below gives a firm's costs. Output Fixed costs ($) 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. $7
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter7: Production, Costs, And Industry Structure
Section: Chapter Questions
Problem 32CTQ: How does fixed cost affect marginal cost? Why is this relationship important?
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Solve it correctly nd not use of excel.
![The table below gives a firm's costs.
Output
Fixed costs ($)
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. $7](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F5d414ebf-95af-4dec-974f-43ca7e42226b%2F0359bfc6-df39-4beb-81c7-91818d0cb627%2Fryc8vni_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The table below gives a firm's costs.
Output
Fixed costs ($)
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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