A firm is producing 1,000 units at a total cost of $5,000. When it increases production to

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A firm is producing 1,000 units at a total cost of

$5,000. When it increases production to 1,001 units, its total cost rises to $5,008. For this firm,

a. marginal cost is $5, and average variable cost is $8.

b. marginal cost is $8, and average variable cost is $5.

c. marginal cost is $5, and average total cost is $8.

d. marginal cost is $8, and average total cost is $5.

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Principles Of Microeconomics

ISBN: 9780357133484

9th Edition

Authors: N Gregory Mankiw

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Question Posted: Jan 27, 2024 11:00 PM

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A firm is producing 1,000 units at a total cost of $5,000. When it increases production to

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Principles Of Microeconomics

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