Solve it correctly nd not use of excel. The table below gives a firm's costs.OutputFixed costs ($)Total costs ($)$80$501$80$55$80$62$80$724.$80$88$80$110What is the marginal cost of expanding production from 4 units to 5 units?Choose one:OA $22O B. $80O C. $16O D. $0O E. $10O F. $110O G. $7

PRODUCTION cost is the incurred monetary value to produce the goods on factor of production . It is…

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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Question

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

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