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A firm is producing 1,000 units at a total cost of $8,000. If it were to increase production to 1,001 units, its total cost would
A firm is producing 1,000 units at a total cost of $8,000. If it were to increase production to 1,001 units, its total cost would rise to $8,005. What does this information tell you about the firm? Question 9 options: Marginal cost is $8, and average variable cost is $5. Marginal cost is $5, and average variable cost is $8. Marginal cost is $8, and average total cost is $5. Marginal cost is $5, and average total cost is $8
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