Question: Below is a table of data for a firm. Please use this table for this question, and the next two questions. Table 1 Total Output

Below is a table of data for a firm. Please use this table for this question, and the next two questions.

Table 1

Total Output

Total Cost

Marginal Cost

Average Cost

0

100

50

115

100

175

150

264

200

316

What is the marginal cost of producing a unit of output when the firm increases production from 150 to 200 units?

describe the returns to scale for the firm illustrated

would be most relevant in determining which quantity the firm would produce? Explain

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