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When a Firm Produces 50,000 Units of Output,its Total Cost

Question 80
Multiple Choice

When a firm produces 50,000 units of output,its total cost equals $6.5 million.When it increases its production to 70,000 units of output,its total cost increases to $9.4 million.Within this range,the marginal cost of an additional unit of output is A) $41.43. B) $134.29. C) $135. D) $145.

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Q 81
If the 15th unit of output has a marginal cost of $29.50 and the average cost of producing 14 units of output is $30.23,what will happen to the average cost of production if the 15th unit is produced? A) Average cost increases as more is produced. B) Average cost will fall. C) Average cost could increase or decrease depending on what happens to variable cost. D) Average cost could increase or decrease depending on what happens to fixed cost.
Q 82
Which of the following costs will not change as output changes? A) marginal cost B) total variable cost C) average variable cost D) average fixed cost E) total fixed cost
Q 83
Average fixed costs of production A) remain constant. B) will rise at a fixed rate as more is produced. C) graph as a U-shaped curve. D) fall as long as output is increased.
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