Assume the following total cost schedule for a perfectly competitive firm. Output TVC ($) TFC ($) 0
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Question:
Assume the following total cost schedule for a perfectly competitive firm.
Output | TVC ($) | TFC ($) |
0 | 0 | 100 |
1 | 40 | 100 |
2 | 70 | 100 |
3 | 120 | 100 |
4 | 180 | 100 |
5 | 250 | 100 |
6 | 330 | 100 |
TABLE
9−1
What is the marginal cost of producing the 2nd unit of output?
A. $5
B. $30
C. $35
D. $10
E. $15
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