Refer to the below table and information. The fixed cost of the firm is $500. The firm's total variable cost is indicated in the table. The marginal cost of the sixth unit of output is: Output 1 2 3 4 5 6 Total variable cost $400 720 1000 1400 2000 3600

Refer to the below table and information. The fixed cost of the firm is $500. The firm's total variable cost is indicated in the table. The marginal cost of the sixth unit of output is: Output 1 2 3 4 5 6 Total variable cost $400 720 1000 1400 2000 3600

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 23RQ: Which costs are measured on per-unit basis: fixed costs, average cost, avenge variable cost,...

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Question

Gg.105.

Refer to the below table and information.
The fixed cost of the firm is $500. The firm's total variable cost is indicated in the table. The marginal cost of the sixth unit
of output is:
Output
1
2
3
st
4
5
6
Total variable
cost
$400
720
1000
1400
2000
3600

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