8

Question 3 (1 point)

A firm has the following short-run cost schedule: Q=0, TC=$50; Q=1, TC=$58; Q=2, TC = $62; Q=3, TC=$64; Q=4, TC=$65; Q=5, TC=$67; Q=6, TC=$71; Q=7, TC=$78; Q=8, TC=$88; Q=9, TC=$102; Q=10, TC=$121 What is the firm's average total cost when Q=8?

Question 3 options:

a)

$11

b)

$7

c)

$5

d)

$9